Posted To: MND NewsWire
The two government sponsored enterprises (GSEs) reported improved financial results in the third quarter of 2016. Fannie Mae and Freddie Mac both said they would pay substantial dividends to the U.S. Treasury under their Senior Preferred Stock Purchase Agreement with the government. Freddie Mac's financial results for the third quarter continue to indicate that its loss in the first quarter of 2016 may have been a fluke . The company posted net and net comprehensive income of 2.3 billion compared to net income of $993 million and $1.13 billion in the second quarter. There was a net loss of $354 million in Q1, the first for the company in four years. Net interest income was $3.7 billion , an increase of $203 million from the second quarter. This reflected an increase in guarantee fee income...(read more)Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2eiqqIq
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