Volume 14 - Number 10
May 16, 2014
Downloads Available: GSE Earnings 1Q 2014
Fannie, Freddie Report Hefty First Quarter 2014 Earnings
Fannie Mae and Freddie Mac reported some $9.3 billion in profit during the first quarter of 2014 due primarily to large, but one-time, settlements over non-agency mortgage-backed securities litigation. Freddie earned $4.0 billion in the first quarter, Fannie $5.3 billion. Neither benefitted from an adjustment to their deferred tax assets, which they have just about exhausted. Together, the two government-sponsored enterprises will have paid about $213.1 billion to the Treasury at the end of June, roughly $25.1 billion more than the $188 billion the two companies have drawn from the Treasury since being placed in government conservatorship.
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