Posted To: MND NewsWire
Both Fannie Mae and Freddie Mac (the GSEs) reported strong financial results in the fourth quarter of 2020 and significant growth in their net worth which, for the first time in their 12 years in conservatorship, they have an unlimited capacity to grow. Fannie Mae’s net and comprehensive income was $4.6 billion in the fourth quarter and $11.8 billion for the entire year. The quarterly net and comprehensive incomes were both about $300 million higher than in Q3, but the full year fell well short of the 2019 total net of $14.2 billion and comprehensive of $14 billion. Revenues were higher at $6.3 billion for the quarter and $21.9 billion for the year. The net revenues for the two earlier periods were $5.9 billion and $18.5 billion, respectively. The company said the decline in net and comprehensive…(read more)
