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Volume 14 - Number 5

March 7, 2014

Downloads Available: GSE Earnings 4Q 2013


Banner Profits for Fannie, Freddie During Fourth Quarter, 2013

Higher guaranty fees and improving housing markets propelled Fannie Mae and Freddie Mac to banner profits during the fourth quarter of 2013 and for the year as whole. The two GSEs reported a combined 2013 net income of $133 billion, helped by significant nonrecurring items related to deferred tax allowance valuation reversals, private-label residential mortgage-backed security lawsuit settlements, increased representation and warranty settlements, and sizeable decreases in loan-loss reserves.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

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