Fannie Mae’s long-awaited year-end 2012 earnings report revealed record-setting profit for the government-sponsored enterprise on both a quarterly and yearly basis, due in part to the company’s loan buyback resolution agreements with Bank of America and a single-family book of business that’s outgrowing its legacy losses. Fannie reported net income this week of $17.2 billion for 2012, compared to a net loss of $16.9 billion in 2011, while the company reported fourth quarter earnings of $7.6 billion. “We have taken a number of actions since 2009 to manage...[Includes one data chart]

The International Accounting Standards Board has proposed an accounting treatment that would force holders of all but the most senior tranche of an MBS to account for those assets at fair value through net income – something that has the Mortgage Bankers Association expressing concern. The MBA generally supports the introduction of fair value through an “other comprehensive income” (OCI) classification for financial assets held within a business model in which assets are managed both in order to collect contractual cash flows and for possible sale, according to James Gross, vice president of financial accounting and public policy for the trade group. However, the MBA has...

Fannie Mae and Freddie Mac suffered lower losses on their nonprime mortgage holdings in 2012 compared with previous years as mortgage performance has stabilized and investor demand for vintage non-agency mortgage-backed securities has increased.

Fannie Mae said Tuesday that the GSE expects to remain profitable “for the foreseeable future” after posting fourth quarter 2012 earnings of $7.6 billion and annual net income of $17.2 billion, the best quarterly and yearly showing in the company’s history.

The three-judge panel of the Ninth Circuit overturned a lower court’s ruling from last summer which determined the FHFA was not acting as conservator but as regulator when the agency halted GSE involvement with PACE programs.

A House Democrat proposes a bill to lower the cap on the Mortgage Interest Deduction. Meanwhile, could Sen. Sherrod Brown succeed Tim Johnson as Senate Banking Committee Chair?

Roughly 270 depositories reported some mortgage buyback activity for 2012 but overall repurchases fell to a four-year low. Is the worst of the problem now over?

Inside MBS & ABS found big gains in the securitization of most commercial property types, including a huge surge in mortgages on hotels and motels.

MBS investing REITs continue to tap the equity market for cash, which means the sector is healthy. Right?

Fannie Mae may be having second thoughts about selling nonperforming loans into the secondary market where cash-rich investors are waiting with bated breath.