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Tag Archives: Profits

GSEs Combine for Q1 Net Income of $2.4 Billion

The average loan-to-value (LTV) ratio for new business decreased at both Enterprises as refinances surpassed purchase mortgage originations, which generally have higher LTV ratios. The report said that borrowers were more inclined to use the Enterprises’ refinance programs that focus mainly on deeply underwater borrowers, including the Home Affordable Refinance Program (HARP).

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Fannie Mae Reports Net Income of $1.9 Billion for Q1

Fannie Mae's comprehensive income for Q1 was reported at $1.8 billion, up from $1.3 billion in Q4. The Enterprise reported a net worth of $3.6 billion as of the end of Q1, which will result in a payment of $1.8 billion to the Department of Treasury in June per the terms of a 2012 amendment to the 2008 bailout agreement. Following the forthcoming June payment, Fannie Mae will have paid $138.2 billion in dividends to Treasury – about $22.1 billion more than the $116.1 billion bailout Fannie Mae received from taxpayers in 2008 to continue operations.

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Freddie Mac’s Net Income Nearly Doubles in Q1 Up to $524 Million

Derivative losses were largely responsible for dropping Freddie Mac's net income by nearly $2 billion from Q3 to Q4 down to $227 million, but the GSE responded by nearly doubling that net income total in Q1 to $524 million. It marked the 14th consecutive quarter of profitability for Freddie Mac. In Q1, derivative losses declined to $2.4 billion, down from $3.4 billion the previous quarter.

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Freddie Mac to Announce Q1 Financial Results Tuesday, May 5

Freddie Mac reported a net income of $227 million for the fourth quarter of 2014, a decline of $1.9 billion from the third quarter. The GSE attributed the drop in net income to derivative losses, which totaled $3.4 billion for the quarter driven by declining interest rates.

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Ocwen Reports Preliminary Net Income of $34 Million for Q1

"I am proud of what we have accomplished as far as managing the business through this difficult transition period. We made great progress on our asset sale strategy, have returned to profitability and continue to generate substantial operating cash flow," said Ron Faris, President and CEO of Ocwen. "However, I am not satisfied with only making $34 million in the quarter. We intend to do better."

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Fannie Mae Reports Reduced Income for Q4, Full Year 2014

Based on its net worth—about $3.7 billion—Fannie Mae said it will pay $1.9 billion in dividends to Treasury, per the terms of the GSEs' amended bailout agreement. As of March, the company will have paid a total of $136.4 billion to taxpayers on the $116.1 billion it drew as a result of the financial meltdown.

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