The nation’s largest mortgage investing REIT, Annaly Capital Management, reported a $627 million loss in the third quarter compared to a $900 million profit in 2Q.
Now that rates are rising, one might expect Freddie to have a blow-out quarter in 4Q. Will Rep. Garrett issue a statement in February congratulating the GSE on a great job?
The company, whose share price was hammered this past summer after disappointing 2Q results, promised investors that it will be break even in 2016 or “modestly profitable.”