HOUSING
FINANCE
Fannie, Freddie Q2 Income Surpasses $8 Billion
Fannie
Mae’s and Freddie Mac’s combined second-quarter income rose to $8.8 billion
from $2.4 billion in the first quarter, the Federal Housing Finance Agency
reported yesterday.
The increase was attributed mainly to interest income and gains on derivatives,
the agency said, adding that the GSEs also saw a $2.2 billion decrease in loan
loss reserves due to rising home prices. National home prices rose 5.4 percent
from the second quarter of 2014.
Meanwhile, the Federal Home Loan Banks collectively earned $669 million in the
second quarter, down from $1 billion in the first quarter.
--ABA Daily Newsbytes
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