So far, performance of the multifamily businesses of Fannie Mae and Freddie Mac in 2021 resembles 2020. It’s not clear if these similarities will persist.
The bill includes more than $10 billion in homeowner assistance funding. The vast majority of that would go toward helping borrowers pay their mortgages, property taxes, home insurance and utilities.
Until the Treasury Department and the Federal Housing Finance Agency amended their preferred stock purchase agreement in January, a $25 billion net worth was the threshold for restarting the net worth sweep of Fannie's quarterly profits.
Due to COVID-related forbearances, Freddie faced a $2.2 billion increase in its provisions for losses in 2020. However, that expense was more than offset by an across the board increase in revenues.
Net interest income for the capital markets business came to a measly $522 million for the year. The segment posted actual losses from investments and other sources, producing just $25 million in net revenue.
In January, Fitch reported 28 newly delinquent hotel loans totaling $564 million. Retail loans were a distant second, with 18 newly delinquent loans worth a total of $268 million.