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For the sixth straight month, home value appreciation was at or exceeded 5%, according to data from Zillow. More specifically,...
[Update 1: Changes earlier version to reflect profit for FHLB of San Francisco]
The Federal Home Loan Bank of San Francisco earned $111 million in the fourth quarter, down from $140 million in the same period a year earlier. Income for fiscal 2011 hit $216 million, down from $399 million in 2010.
The San Francisco Bank said 139 members reduced their requests for bank advances in 2011, significantly reducing the bank's earnings potential in that particular segment.
The Federal Home Loan Bank of Seattle increasing earnings to $83.5 million from $20.5 million in 2010. That bank attributes its annual income growth to a $74 million gain on the sale of $1.3 billion of mortgage loans and reduced credit-related charges on private-label MBS.
The FHLB branch wrote down $91.2 million in credit losses on private-label MBS for fiscal 2011, down from $106.2 million in credit losses a year before.
The Seattle bank said it will contribute $9.3 million to its 2012 Affordable Housing Program to acquire and develop affordable rental and owner-occupied housing for low-to-moderate income households.
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