Velocity Financial reported an increase in net income quarter-over-quarter, driven by record production.

Outstanding advances for the FHLBank system fell to $693.48 billion in the third quarter from $742.85 billion in the second. Still, the 11 FHLBanks’ combined profits were up almost 10%. (Includes three data tables.)

Quarterly profits were up at both Fannie and Freddie, but were down significantly on a year-to-date basis due to a weak first half of 2025. (Includes data table.)

Annaly Capital Management and its subsidiary, Onslow Bay Financial, had a strong third quarter, with $2.3 billion in locks of expanded-credit mortgages.

The company has expanded its issuance of non-agency MBS beyond GSE-eligible mortgages for non-owner-occupied properties, adding traditional GSE mortgages to the mix.

If Fannie capital had been at mandated levels, the enterprise would have had an annualized ROE of 10.3% in the third quarter.

Since 2009, Hanover Bank, a small community bank in New York, has had a strong focus on the non-agency market.

When acquisitions at the GSEs are slow, their mortgage and liquidity portfolios play a larger role in earnings. (Includes data table.)

Higher provisions for losses in the second quarter contributed to a 14.6% sequential drop in net income for the mortgage giant.

Lower head counts at the mortgage giant reduced administrative expenses by $145 million in the second quarter, though profits were still down 9% sequentially.