Annaly is selling its noncore holdings to focus on residential mortgage investments. Its agency MBS business continues to shrink, but not dramatically.
Residential mortgage lenders are trimming their workforce but at a very slow pace, which could lead to serious losses in the second half of the year, according to industry consultant David Lykken.
Another blow-out earnings quarter from Freddie Mac. But earnings were juiced a bit by loan-loss reserve recaptures. Meanwhile, its net worth continues to increase.