All of the 12 regional Federal Home Loan Banks reported positive net income during the third quarter, reflecting fewer write-downs on mortgage-backed securities. The banks reported combined net income of $732 million for the quarter, compared to combined losses of $165 million one year ago, when five banks reported losses. The smallest gain came from the Seattle home-loan bank, which reported net income of $10 million, compared with a year-earlier loss of $94 million. The gain came as the bank wrote down its mortgage securities by $16 million, versus a year-earlier write-down of $130 million.
Home loan banks post profits
Most Popular Articles
Latest Articles
Real estate farming: Become the go-to agent in your area using these tips, tools & strategies
Learn how to generate a steady pipeline of real estate leads and clients in your area using this proven approach.
-
Zillow believes the evolution of the industry will only help it grow
-
All parties have settled the Sitzer/Burnett suit, so what’s next?
-
Longtime reverse mortgage leader Scott Norman appointed CEO of Texas MBA
-
Rates at 7% attract different types of borrowers, forcing lenders to rethink profit strategies
-
The unchanging