The Federal Agricultural Mortgage Corp., Washington, has reported net income of $25.1 million ($1.77 per share) for 2003, compared with $21.3 million ($2.08 per share) for 2002.For the fourth quarter, Farmer Mac's net income totaled $4.9 million ($0.40 per share), compared with $2.8 million ($0.23 per share) in the fourth quarter of 2002. Henry D. Edelman, Farmer Mac's president and chief executive officer, said 90-day delinquencies in the company's portfolio as of Dec. 31 were at their lowest levels in more than two years as a result of credit risk management efforts and increasing strength in the U.S. agricultural economy.
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The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
20m ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
44m ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
2h ago -
In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
9h ago -
Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27