Fannie and Freddie Extend Strong Earning Streak

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Posted To: MND NewsWire

Both Fannie Mae and Freddie Mac, the two government supported enterprises (GSEs) that have been in federal conservatorship for ten years this month, reported another quarter of strong financial returns . Freddie Mac finished the second quarter with Comprehensive Income of $2.4 billion and the significantly larger Fannie Mae had Comprehensive Income of $4.5 billion. Freddie Mac’s Comprehensive Income was higher than both the $2.1 billion posted in the first quarter of 2017 and the $1.9 billion in the second quarter of 2017. Its Net Income was $2.5 billion compared to $2.9 billion and $1.7 billion in the two earlier periods. A portion of the revenue was due to a $334 million ($264 million after-tax) judgement against Nomura Holding America, Inc. from litigation involving certain non-agency mortgage…(read more)

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