The latest economic and policy trends facing mortgage servicers

Join this webinar for an in-depth roundtable discussion on economic and policy trends impacting servicers as well as a look ahead at strategies servicers should employ in the next year.

2021 RealTrends Brokerage Compensation Report

For the study, RealTrends surveyed all the firms on the 2021 RealTrends 500 and Nation’s Best rankings, asking for annual compensation data for the 2020 calendar year.

Steve Murray on the importance of protecting property rights

In this episode, Steve Murray, RealTrends advisor and industry stalwart, discusses some of the issues facing private property rights, including how a case in Germany could potentially affect U.S. legislation.

Lenders, it’s time to consider offering non-QM products

The non-QM market is making a comeback following a pause in 2020. As lenders rush to implement, Angel Oak is helping them adopt these new lending products.

MortgageReal Estate

Fannie Mae multifamily posts solid Q2

Originations are up and delinquencies are low, but there is one bad mark on the scorecard

Fannie Mae’s multifamily business posted a solid second quarter.

Originations are up almost 10% year-over-year, with Q2 2018 coming in at $14.5 billion, $1.3 billion more than Q2 2017’s $13.2 billion in originations.  

The quarter-over-quarter gain is even better, as Fannie put up $3.2 billion more in originations in Q2 than it did in Q1.

The overall multifamily portfolio continues to grow, increasing $6.3 billion in unpaid balance in Q2.

The one dark spot in Fannie’s Q2 performance was its tumble in net income. Fannie Mae was able to pull in $504 million in net income this quarter, but that is not close to last quarter, when it netted $580 million. The drop represents a 13% decrease in net income QoQ.  Fannie's net income was down YoY as well. Net income fell $34 million or 6% YoY from its Q2 2017 total of $538 million.

Fannie chalks the losses in net income up to a shift to fair value losses in Q2 from fair value gains in Q1. The fair value losses were largely due to losses on commitments as a result of increasing interest rates during the commitment periods.

Delinquencies remain functionally non-existent for Fannie Mae, and the serious delinquency rate decreased from 0.11% at the end of Q4 2017 to 0.10% at the end of this quarter.

Outgoing President and CEO of Fannie Mae Timothy Mayopoulos expressed confidence in Fannie’s Q2 performance.

“Our strong quarterly results reflect solid fundamentals in our single-Family and multifamily businesses,” he said in a statement. “Both segments are managing and distributing risk in sustainable, efficient, and innovative ways, and our guaranty book remains robust and stable.”

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