Solving the Post-Close Challenge with Intelligent Automation

Join our upcoming webinar as SoftWorks AI CEO and Avanze CEO explore the advances in tech that allow for greater levels of automation and cost reduction, especially in support of post-close and pre-fund review.

Spruce’s Patrick Burns on innovation in title technology

In the season finale of Housing News season 5, Spruce CEO discusses heightened investor interest in title tech, innovation and fintech adoption.

Top CFPB official “hates” QM rules, jeopardizing safe harbo

A top CFPB official in charge of the rule-making process has heavily criticized the agency's own qualifying mortgage rule, jeopardizing safe harbor.

How borrower education can make housing more attainable

The current housing market is making it difficult for prospective buyers to afford a home. Housing professionals need to find ways to better meet buyer needs.

Investments

Fannie Mae net income soars to $8.7 billion in 3Q

Fannie Mae posted a third quarter net income of $8.7 billion, compared with a net income of $1.8 billion for the third quarter of 2012, making it the company’s seventh consecutive quarterly profit, the company announced in a press release.

In addition, Fannie Mae reported a comprehensive income of $8.6 billion for the third quarter of 2013, compared to $2.6 billion for the same period a year prior.

Fannie Mae’s strong third quarter results were driven primarily by continued stable revenues and credit- related income. Credit-related income was positively affected by an increase in home prices in the quarter, which resulted in a reduction in the company’s loss reserves; the recognition of compensatory fees received in connection with the Bank of America compensatory fee agreement; and a decline in the number of delinquent loans in the company’s single-family guaranty book of business. 

Most Popular Articles

Mortgage forbearance drops to 4.36%, exits pick up steam

The downward trend of borrowers in forbearance picked up speed in the last week of April, falling 11 basis points to 4.36% of servicers’ portfolio volume.

May 10, 2021 By
3d rendering of a row of luxury townhouses along a street

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