Newsroom

November 03, 2016

3Q net income of $2.3B for Freddie, $3.2B for Fannie

Government-sponsored enterprises Freddie Mac and Fannie Mae reported net incomes of $2.3 billion and $3.2 billion, respectively, in the third quarter of 2016.

For the third quarter, Freddie said its single-family guarantee fee income increased but was partially offset by a decline in its investments portfolio. Fannie said it was the largest provider of liquidity to the mortgage market during the third quarter, providing $184 billion in mortgage financing.

Fannie said it expects to pay the Treasury Department $3 billion in dividends in December, bringing its total payments to $154.4 billion. Freddie will pay $2.3 billion in December, bringing its total to $101.4 billion.

For the GSEs' comprehensive income – which is the sum of their net income and items that have not yet been realized – Freddie reported $2.3 billion for the third quarter, while Fannie reported $3 billion.

Fannie and Freddie have been under the FHFA's conservatorship since 2008. NAFCU continues to push for housing reform that guarantees credit unions access to the secondary housing market and for fair pricing based on loan quality instead of volume.