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.
With Democrats in control of Congress, Sens. Jack Reed, Sherrod Brown and Patrick Leahy have reintroduced a 2020 bill with an eye toward including some of its language in the American Rescue Plan.
Ocwen Financial took another loss in the fourth quarter of 2020. The nonbank also received a cash infusion from Oaktree Capital Management with plans to grow.