Watt Says FHL Home Bank Activity Tops $1 Trillion

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Posted To: MND NewsWire

It often gets lost in the shuffle, but the Federal Housing Finance Agency (FHFA) is not just the regulator and conservator of the government sponsored enterprises Fannie Mae and Freddie Mac, it also regulates the Federal Home Loan Banking System (FHLBank). Melvin L. Watt, Director of FHFA spoke to directors of those banks on Tuesday, at their Directors’ Conference. Watt said that the System had its most profitable year ever in 2016, with net earnings of $3.4 billion. This, however, was in part due to litigation settlements over private label securities which contributed $952 million of the total. “Earnings, while still strong,” Watt said, “would have been more in line with recent annual System earnings, without this non-recurring settlement income.” The consistent profitability of the System…(read more)

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