<?xml version="1.0" encoding="UTF-8"?>
<rss version="2.0" xmlns:media="http://search.yahoo.com/mrss/">
  <channel>
    <title>GSE Performance</title>
    <description>
      <![CDATA[Description+goes+here]]>
    </description>
    <link>https://www.insidemortgagefinance.com/rss</link>
    <language>en-us</language>
    <item>
      <title>Fannie Mae, Freddie Mac Profits Decline in 2025</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Despite remarkably stable revenues and meaningful improvements in mortgage rates, below-the-line factors at Fannie and Freddie took a significant bite out of profits in 2025. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/236739</guid>
      <pubDate>Fri, 20 Feb 2026 14:52:40 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/236739-gse-profits-ebb-in-2025</link>
    </item>
    <item>
      <title>Fannie Mae Releases Return on Equity Metric</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Fannie Mae posted an “illustrative” return on equity of 9.5% during its second-quarter earnings call last month. But that was based on the enterprise’s required capital rather than the capital actually on hand.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/235086</guid>
      <pubDate>Fri, 15 Aug 2025 13:06:11 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/235086-fannie-mae-releases-roe</link>
    </item>
    <item>
      <title>GSE Earnings a Mixed Bag in Second Quarter</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[New business may be up for both the single-family and multifamily businesses, but loan loss provisions due to softening home price growth cut into profits at both Fannie and Freddie. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234967</guid>
      <pubDate>Fri, 01 Aug 2025 15:15:08 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234967-gse-earnings-report-a-mixed-bag</link>
    </item>
    <item>
      <title>GSE Profits Begin to Ebb in First Quarter</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Freddie’s guarantee book of business rose from $3.104 trillion at the end of 2024 to $3.115 trillion as of the end of March. Fannie’s fell from $3.622 trillion to $3.610 trillion. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234230</guid>
      <pubDate>Fri, 09 May 2025 15:53:57 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234230-gse-profits-begin-to-ebb</link>
    </item>
    <item>
      <title>GSEs: Stable Profits in Tough Times</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[The sign of a good business model is one that makes profits in good times and bad. Fannie and Freddie have shown strong profits throughout the post-pandemic downturn. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233481</guid>
      <pubDate>Fri, 14 Feb 2025 16:08:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233481-gses-stable-profits-in-tough-times</link>
    </item>
    <item>
      <title>Freddie Mortgage Purchases Surpass Fannie in 2024</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[It’s the first time Freddie’s MBS business has been larger than Fannie’s on an annual basis since 1991.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233091</guid>
      <pubDate>Fri, 03 Jan 2025 14:00:08 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233091-freddie-mortgage-purchases-for-2024-surpass-fannie</link>
    </item>
    <item>
      <title>GSE Earnings Resilient in a Tight Housing Market</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Remarkably steady net revenues at the GSEs mean fluctuations in profits are mostly due to below-the-line expenses. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/232564</guid>
      <pubDate>Fri, 01 Nov 2024 16:39:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/232564-gse-earnings-resilient-in-a-tight-housing-market</link>
    </item>
    <item>
      <title>FHLBanks Still Flying High as Profits Improve in First Quarter</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Although FHLB borrowing declined in the first quarter, with lenders continuing to reduce outstanding advances, profits for the system as a whole were up 9.6% from the fourth quarter and 16.6% year to date. (Includes three data tables.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/231053</guid>
      <pubDate>Fri, 17 May 2024 15:05:41 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/231053-fhlbanks-still-flying-high</link>
    </item>
    <item>
      <title>Can the GSEs Ever Earn Enough Money?</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Even though Fannie Mae and Freddie Mac maintained healthy profits in a tough market in the first quarter, their capital shortfalls under the ERCF remained absurdly high. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/230916</guid>
      <pubDate>Fri, 03 May 2024 15:44:44 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/230916-can-the-gses-ever-earn-enough-money</link>
    </item>
    <item>
      <title>Accounting Rules Drive Fannie, Freddie GSE Profits</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Lingering capital shortfalls belie higher net incomes at Fannie Mae and Freddie Mae in 2023. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/230292</guid>
      <pubDate>Fri, 23 Feb 2024 14:20:53 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/230292-accounting-rules-drive-gse-profits</link>
    </item>
    <item>
      <title>GSEs: World-Class Cash Cows</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Measured by profits per employee, Fannie Mae and Freddie Mac are among the most successful companies on the planet.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/229916</guid>
      <pubDate>Fri, 12 Jan 2024 17:06:33 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/229916-gses-world-class-cash-cows</link>
    </item>
    <item>
      <title>Federal Home Loan Bank Earnings Slow Down in Third Quarter</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[After a strong run-up in earnings spanning more than a year, the Federal Home Loan Banks posted a modest decline in quarterly income in the third quarter. (Includes three data tables.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/229505</guid>
      <pubDate>Wed, 22 Nov 2023 15:50:37 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/229505-federal-home-loan-bank-earnings-increase-in-3q</link>
    </item>
    <item>
      <title>GSEs Find Ways to Profit in the Third Quarter</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Fannie Mae and Freddie Mac revenues ticked up in the third quarter, but an increase in net expenses cut into profits. Those expenses included damages and interest awarded to shareholders in <em>Fairholme v. FHFA</em>. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/229405</guid>
      <pubDate>Fri, 10 Nov 2023 14:59:36 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/229405-gses-find-ways-to-profit-in-the-third-quarter</link>
    </item>
    <item>
      <title>GSEs Ace 2023 Stress Tests</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[According to their 2023 Dodd-Frank stress tests, Fannie and Freddie would remain profitable even in the worst financial depression of the modern era.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/228670</guid>
      <pubDate>Fri, 18 Aug 2023 15:14:18 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/228670-gses-ace-2023-stress-tests</link>
    </item>
    <item>
      <title>GSE Profits Spike in 2Q; Capital Remains Low</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Rising home prices allowed Fannie and Freddie to drive up second-quarter profits by reducing their loan loss allowances. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/228527</guid>
      <pubDate>Fri, 04 Aug 2023 14:47:23 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/228527-gse-profits-spike-capital-remains-low</link>
    </item>
    <item>
      <title>Fannie/Freddie Profits Grow as Volume Plummets</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Timing differences in their provisions for loan losses allowed Fannie’s first-quarter profits to more than double while Freddie’s climbed just 13.2% compared with the fourth quarter. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/227795</guid>
      <pubDate>Fri, 12 May 2023 17:17:14 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/227795-fannie-freddie-profits-grow-as-volume-plummets</link>
    </item>
    <item>
      <title>Falling Home Prices Tank GSE Profits in 2022</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Almost all of the decline in combined GSE profits was due to a spike in loan-loss provisions. But while Fannie’s provisions continued to grow in the fourth quarter, Freddie’s may have peaked in the third quarter. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/227136</guid>
      <pubDate>Fri, 03 Mar 2023 14:34:08 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/227136-falling-home-prices-tank-gse-profits</link>
    </item>
    <item>
      <title>GSE Earnings: Half the Story</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Fannie Mae put money away for a rainy day; Freddie Mac postponed its fourth-quarter earnings report.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/227015</guid>
      <pubDate>Fri, 17 Feb 2023 15:48:56 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/227015-gse-earnings-half-the-story</link>
    </item>
    <item>
      <title>Decline in GSE MBS Issuance Slows in July</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Purchase-mortgage business held steady in Fannie/Freddie MBS issuance in July while refinance volume continued to drop. (Includes two data charts.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/225377</guid>
      <pubDate>Fri, 12 Aug 2022 14:23:22 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/225377-decline-in-gse-sales-slows</link>
    </item>
    <item>
      <title>Strong Stress Test Results for Fannie and Freddie</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[The GSEs earned a combined $20.5 billion in theoretical net income under the severely adverse economic scenario of the 2022 stress tests. But those returns would vanish if they had to reserve for deferred tax assets.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/225394</guid>
      <pubDate>Fri, 12 Aug 2022 14:16:32 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/225394-2022-dfast-results-for-fannie-and-freddie</link>
    </item>
    <item>
      <title>GSEs’ Earnings Reflect Change in the Housing Market</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[The timing of credit-related benefits and losses affected the profits of Fannie and Freddie in the first half of 2022. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/225282</guid>
      <pubDate>Fri, 29 Jul 2022 17:40:54 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/225282-gses-2q22-earnings-reflect-change-in-the-housing-market</link>
    </item>
    <item>
      <title>Fannie/Freddie Earnings Reveal Capital Shortfalls</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[The GSEs’ latest SEC filings reveal a combined capital shortfall of $359 billion at the end of the first quarter. But combined earnings were a healthy $8.21 billion for the quarter. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/224524</guid>
      <pubDate>Fri, 06 May 2022 14:45:44 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/224524-fannie-freddie-earnings-reveal-capital-shortfalls</link>
    </item>
    <item>
      <title>Seven-Quarter Decline in Outstanding FHLB Advances Ends </title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Outstanding Federal Home Loan Bank advances ticked up at the end of 2021, halting a nearly two-year decline. (Includes two data charts.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223877</guid>
      <pubDate>Fri, 25 Feb 2022 15:29:05 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223877-decline-in-fhlb-advances-abates</link>
    </item>
    <item>
      <title>Multifamily Earnings: Fannie’s Up; Freddie Holds Steady</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Credit-related income boosts profits at Fannie Mae; fair value losses at Freddie Mac keep net income growth in check.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223893</guid>
      <pubDate>Fri, 25 Feb 2022 15:23:08 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223893-multifamily-earnings-fannies-up-freddie-holds-steady</link>
    </item>
    <item>
      <title> GSEs’ Stratospheric Earnings Begin to Fall</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Fewer refinancings mean Fannie Mae’s and Freddie Mac’s amortization incomes from prepayments are in decline. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/222873</guid>
      <pubDate>Fri, 29 Oct 2021 14:30:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/222873-gses-stratospheric-earnings-begin-to-fall</link>
    </item>
    <item>
      <title>GSEs’ 2020 Earnings Revolve Around COVID-19</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Spikes in amortization income, guarantee-fee income and credit-related expenses are all closely tied to the government’s intervention in the coronavirus crisis. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/220594</guid>
      <pubDate>Fri, 19 Feb 2021 15:55:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/220594-gses-2020-earnings-revolve-around-covid-19</link>
    </item>
    <item>
      <title>Fannie/Freddie FY2020 Earnings Preview</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[If the GSEs’ margins from the first three quarters of 2020 hold, Fannie Mae and Freddie Mac could earn combined profits of $19.9 billion for the year. ]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/220432</guid>
      <pubDate>Fri, 05 Feb 2021 16:05:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/220432-gse-earnings-preview</link>
    </item>
    <item>
      <title>GSEs Post Strong 2Q20 Earnings, Despite CECL, Pandemic</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[The improved financial performance of the GSEs largely reflects the impact of CECL. The provisions for losses that would have been made in 2Q20 under the old accounting standard were already accounted for by CECL, which was adopted in December. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/218770</guid>
      <pubDate>Fri, 31 Jul 2020 16:30:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/218770-gses-post-strong-2q20-earnings-despite-cecl-and-pandemic</link>
    </item>
    <item>
      <title>GSE Earnings Rebound in 2Q20, SF Loan Holdings Up</title>
      <author>jbancroft@imfpubs.com</author>
      <description>
        <![CDATA[After taking big hits in credit expenses and hedging losses in early 2020, Fannie and Freddie reported more normal net income in the second quarter. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/218768</guid>
      <pubDate>Thu, 30 Jul 2020 16:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/218768-gse-earnings-rebound-in-2q20-sf-loan-holdings-up</link>
    </item>
    <item>
      <title>FSOC to Review Secondary Mortgage Market</title>
      <author>dhollier@imfpubs.com</author>
      <description>
        <![CDATA[Some industry players believe FHFA Director Mark Calabria wants to use an activities-based review of the market to reduce regulations, which many observers think increase the cost of mortgages. ]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/218622</guid>
      <pubDate>Fri, 17 Jul 2020 14:00:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/218622-fsoc-to-review-secondary-mortgage-market</link>
    </item>
  </channel>
</rss>
