twitter linkedin
facebook google+
Search:

Mortgage News

News by Subject
Complete list of specialty news sections.

Purchase Subscription
Subscribe to MortgageDaily.com and get immediate access to all news, statistics and archives.

Mortgage Advertising
Reach mortgage executives, loan originators and other people tied to mortgage industry.

Consumer Mortgage News
Free mortgage news for prospective borrowers.

Mortgage Newsletter
Free e-mail newsletter with the latest headlines from MortgageDaily.com.

Mortgage News Reprints
Put entire MortgageDaily.com stories in your online or printed newsletter or publication.

Mortgage Feedget RSS code
Condensed MortgageDaily.com stories free on your Web site or for your RSS reader.

News Archives
Archive of MortgageDaily.com stories by month going back to 1999.

Press Releases
Reports and announcements from MortgageDaily.com.

Mortgage Statistics
Data and statistics for real estate finance.

Mortgage Directories
Directories of lenders, branch operators and mortgage service providers.

Mortgage Graphs
Directories of lenders, branch operators and mortgage service providers.

home subscribe advertise reprints e-mail help RSS about us LOG IN

Mortgage News

 

Mortgage News

HOT Topics

production

servicing

compliance

legal

fraud

secondary

jobs

appraisal

site map

www.loan-academy.com/
Corporate Mortgage News
M e r g e r s, a c q u i s i t i o n s and private and public offerings. Other corporate activity including executive appointments, bankruptcies name changes.


Hardly Any Taxpayer Support for Freddie in Q1

Minimal draw requested from Treasury

May 3, 2012

By MortgageDaily.com staff


Virtually no government support was required by the Federal Home Loan Mortgage Corp. during the first three months of 2012. The quality of the company's portfolio has improved significantly over the past seven years.

Freddie Mac reported a first-quarter profit of $577 million.

Earnings were off from $619 million in the final three months of last year as a result of higher derivative losses and lower net interest income.

In the same three-month period a year earlier, the McLean, Va.-based company earned $676 million.

Factoring in comprehensive income, earnings jump to $1.789 billion from the fourth quarter's
$1.506 billion.

A net worth deficit as of March 31 required Freddie to request $0.019 billion from the Department of the Treasury -- a drop in the bucket compared to the $72.300 billion in cumulative draws since being thrown into conservatorship in 2008.

Freddie has made $18.3 billion in cumulative dividend payments to the Treasury Department, including $1.8 billion in the first quarter.

Since the Home Affordable Refinance Program launched in early 2009, HARP purchases at the government-controlled enterprise totaled 565,000 loans for $124 billion.

During that same period, workouts were achieved on 656,299 single family loans -- including 358,172 loan modifications, 108,931 repayment plans and 72,394 forbearance agreements. In addition, 116,802 short-sale and deed-in-lieu of foreclosure transactions were included.

Freddie said it supported financing on 577,373 housing units during the first quarter. Last year's total was 1,862,446, slower than in 2010 when the number was 2,122,295. Multifamily units accounted for 86,431 of the first quarter total and 320,753 of the 2011 figure.

Based on monthly operational data previously released by Freddie, first-quarter purchases and issuances were $114.0 billion, stronger than $102.2 billion in the fourth quarter and $104.7 billion in the first-quarter 2011.

Freddie's total mortgage portfolio stood at $2.0565 trillion as of March 31, according to the earlier data.

The weighted-average original loan-to-value ratio on the single-family credit guarantee portfolio purchases sat at 66 percent during the first quarter -- the lowest level since at least 2005.

Meanwhile, the 763 weighted-average credit score was the highest average score during that period.

Freddie Mac profile

next story

back to current headlines


GSE News | Fannie/Freddie Share Statistics
Fannie, Freddie and FHLB news. Coverage of government sponsored enterprise regulation, operations and litigation.


Mortgage Backed Securities | MBS News | MBS Statistics
News about commercial and residential mortgage-backed securities. Stories about ratings actions and changes to servicer ratings. Studies and reports about the performance of securitizations and problem vintages and classes. Subprime, Alt-A, home equity and j u m b o analysis.


Secondary Marketing News | Correspondent Lender Directory
Mortgage portfolio trades and forward commitments. Correspondent lending, r e p u r c h a s e s and warehouse news. Secondary marketing statistics and lawsuits.



Commercial Mortgage News | CRE Lender Directory | CRE Statistics
Stories about commercial lending on multifamily, office, retail and industrial properties.


Origination News | Lender Ranking | Fundings by Lender | Statistics
Quarterly residential mortgage production by lender. Subprime, Alt-A, home equity and conforming originations. Volume by quarter since 2003.


Logout forgot
password?

SUBSCRIBERS: Edit Subscription | Subscription Help | or call 214.521.1300

Subscribe Contact Us Site Map

Copyright © 2017 Mortgage Daily, D a l l a s
Subsribers Only:

AMC directory

ARM indexes

mortgage company directory

mortgage regulations

net branch directory

p r i c i n g engine directory

wholesale lender directory

More Mortgage News Resources (full site map):

advertising news

appraisal news

bank news

biggest lenders

commercial mortgage news

corporate mortgage news

credit news

FHA news

financial regulation news

foreclosure news

GSE news

jumbo mortgage news

interest rates

loan modification news

loan originator survey

LOS Newsletter

MBS

mortgage associations

mortgage-backed securities

mortgage books

mortgage brokers

mortgage compliance

mortgage conferences

mortgage directories

mortgage education

mortgage employment

mortgage employment index

mortgage executives

mortgage fraud

mortgage fraud blog

mortgage fraud local news

Mortgage Fraud Index

Mortgage Graveyard

mortgage insurance news

mortgage lawsuits

mortgage leads

mortgage lender ranking

mortgage licenses

mortgage litigation

Mortgage Litigation Index

Mortgage Market Index

mortgage mergers

mortgage news

mortgage politics

mortgage press releases

mortgage production

mortgage public relations

mortgage rates

mortgage servicing

mortgage statistics

mortgage technology

mortgage video

mortgage Webinars

net branch

net branch directory

nonprime news

origination news

originator tools

real estate news

refinance news

reverse mortgage news

secondary marketing

social media

servicing news

subprime news

wholesale lenders