Mortgage Tech Demo Day

In a half-day format, technology companies will demo their platforms and answer questions. You can tune in for the whole demo day, or strategically drop in on sessions to learn about specific solutions.

DOJ v. NAR and the ethics of real estate commissions

Today’s HousingWire Daily features the first-ever episode of Houses in Motion. We discuss the Department of Justice’s recent move to withdraw from a settlement agreement with the NAR.

Hopes for generational investment in housing fade in DC

Despite a Democratic majority, the likelihood of a massive investment in housing via a $3.5 trillion social infrastructure package appears slim these days. HW+ Premium Content

Road to the one-click mortgage

This white paper will outline how leveraging a credential-based data provider can save money for lenders, reduce friction for borrowers, speed time to close, and overall bring lenders one step closer to a one-click mortgage.

InvestmentsMortgage

Fannie Mae reports slight increase in net income in Q2

Set to pay Treasury $3.1 billion

Fannie Mae reported an increase of net income in the second quarter to $3.2 billion and comprehensive income of $3.1 billion.

The company’s net income increased from last year’s $2.9 billion and from $2.8 billion last quarter. The company's earnings per share held steady wtih last year's $0.01 per diluted common share. 

The GSE will now pay out $3.1 billion to the U.S. Treasury if the Federal Housing Finance Agency agrees to a dividend in this amount. In June, Fannie Mae paid out $2.8 billion to the Treasury, bringing the total amount paid out to the Treasury to $162.7 billion through the second quarter this year.

“Our results reflect the strength of our business model and the momentum of our strategy,” said Timothy Mayopoulos, Fannie Mae president and CEO. “We are focused on helping lenders save time and money, making the mortgage process easier, and expanding access to credit in ways that make sense.”

“We will continue to deliver innovative solutions that help our customers succeed, improve the mortgage process, and create safe and sustainable opportunities for families to own or rent a home,” Mayopoulos said.

Net revenues, which consist of net interest income, fees and other income, decreased slightly to $5.4 billion in the second quarter, down from last quarter’s $5.6 billion and last year’s $5.5 billion.

The company has two primary sources of net interest income: the guaranty fees it receives for managing the credit risk on loans underlying Fannie Mae mortgage-backed securities held by third parties; and the difference between interest income earned on the assets in its retained mortgage portfolio and the interest expense associated with the debt that funds those assets.

Over the past few years, income from guaranty fees and other consolidated trust income has played an increasingly important role, as seen from the chart below.

Click to Enlarge

earnings

(Source: Fannie Mae)

Most Popular Articles

How the Delta variant may impact the housing market

How should you look at data on the housing market to tell if things are returning to normal? HousingWire’s lead analyst answers. HW+ Premium Content

Jul 29, 2021 By

Latest Articles

Biden announces new CDC eviction limits

The Centers for Disease Control on Tuesday issued new limits on evictions for non-payment of rent or mortgage through October 3, 2021.

Aug 03, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please