Third-quarter results from the publicly traded megabanks have arrived. The mortgage read: mostly lower originations, but higher MSR marks.

Finance of America took a hit in the second quarter from the cost of integrating the operations of AAG into its business.

Fannie and Freddie both shifted from a provision for losses in the first quarter to a benefit in the second. Almost all of that improvement took place in the enterprises’ single-family businesses.

Much of Farmer Mac’s first-quarter growth came from its diversification into rural infrastructure.

Profits increased at Fannie Mae and Freddie Mac in the first quarter of 2023 despite a historic decline in volume. (Includes data chart.)

Fannie's secret sauce in 1Q: dramatically lower provisions for credit losses...

The fair value of UWM's MSR portfolio fell by $150.8 million during the fourth quarter.

By booking a higher provision for credit losses in the third quarter, Freddie set the stage for improved financial performance in the fourth.

While the GSEs are under mandates to shrink their retained portfolios, Freddie’s holdings increased in the final three months of 2022. (Includes data chart.)

Loss provisions and declining volumes spell lower profits going forward. However, Fannie’s capital requirements remain elevated.