Note:
You gotta love those pronouns, show-downs and hoe-downs! We live in a world of politically correct and over sensitive ppl.

And how history is forgotten...
George Soros (offender and repeater of hate crimes) is a prime example of what started in late 1939 from the invasion of Poland. These protesters at the universities and colleges have fallen into an abyss. I'm surprised that Chucky Schumer hasn't raised his voice.

Even though GSE is full of children like me, I refer to no one specifically in investing or in GSEs, not even Ps.
I say child, only a child can get to heaven, only a child is open enough to not be partially or totally bias, angry, arrogant, egotistical, nor is into or understands the destructive nature of self awareness. the young and the old are the most childlike, one can learn almost anything, the other can accept almost anything they used to avoid or condemn.
The corrupt, lying, deceptive, hate filled gov officials and people like KTCarneyConMen have already seen all their rewards they will ever get. GDE common shareholders will see their day sooner or later.

Tell everyone one on FNMA Donotundestand IS Biden. Stockanalyze is wondering who he works for and why he defends all this mess.

That's one of my fvorite sayings there Monk! Only difference, I say man or person instead of child. It's all good though.

just like that, steal from one to hand out to the other. i get affordable housing, i dont get the connection with GSE conservator, its a conflict of major proportions, your stealing from stable housing and giving to high risk housing. its how GSEs became weaker than they should be in the past, it the excuse Treasury decided to take it over and use it as an excuse. high risk has nothing and i mean nothing to do with stability in housing, and everything to do with taking capitol requirements from where they were generated and needed. she wants to screw GSEs, Obama got away with stealing GSE money for Obamacare, she should not, it will compromise the whole housing industry. she is an angry old dumb racist.

I think every democrat in congress, should give up half their pension and salary to fund affordable housing.

Congressional lawmakers form bipartisan real estate caucus

Three of the four founding members say that their previous experiences working
in real estate are reasons for forming the group and attempting to support the industry

May 6, 2024, 2:17 pm By - Chris Clow

A coalition of four lawmakers in the U.S. House of Representatives — two Democrats and
two Republicans — have come together to found the Bipartisan Congressional Real Estate
Caucus, a group designed to “support policies that allow [the real estate] industry to prosper”
due to its overall importance to the U.S. economy.

The group, announced on Monday, includes Reps. Mark Alford (R-Miss.), J. Luis Correa (D-Calif.),
Tracey Mann (R-Kan.) and Brittany Petterson (D-Colo.). It is publicly supported by the National
Association of Realtors (NAR), the Mortgage Bankers Association (MBA), the National Association
of Home Builders (NAHB), the American Land Title Association (ALTA) and seven other trade groups.

“Real estate represents 16% of U.S. GDP, supports 2.8 million jobs, and generates $50 billion in
tax revenue,” an announcement of the caucus’ formation stated. That’s why it’s necessary to
establish a congressional group dedicated to its needs, the group explained.

Three of the four members describe their previous experience working in real estate as reasons
for helping to form the group and pursue goals designed to support the industry.

“I am proud to serve as a co-chair of the Real Estate Caucus,” Alford said in a statement. “I know
that housing is a key issue for all Americans, and especially for my constituents. Before being
elected to Congress, I owned a small real estate business, so I know firsthand the regulatory
challenges that realtors face every day. I’m honored to be able to chair this caucus and work
together to solve real estate issues.”

Correa also spoke about his time working as a real estate broker, saying that the business
helped him to see “firsthand the role real estate plays in uplifting Main Street and hard-working
American taxpayers,” he said. “Our Caucus will bridge the partisan divide and push Congress
together to deliver real estate policy that will benefit soon-to-be homeowners across the country
and help so many families get one step closer to fulfilling their own American Dream.”

Mann attributed burdensome regulations and high-cost materials as deterrents for the housing
market. He formerly served as a commercial real estate agent, which he believes should translate
well to the goals of the caucus.

“Real estate agents and developers should be empowered to provide housing options for all
Americans, generate jobs, and offer top quality services for homeowners — not handcuffed
by overreaching federal regulations from Washington, D.C.,” Mann said.

Petterson focused on the way the real estate industry can help to facilitate the American dream.
She added that she is “proud to be a founding member of this caucus as we work to champion
policies that will increase our housing supply and accessibility, make it easier to buy a first home
or leave a home you’ve outgrown, and foster a market that is beneficial for all.”

The trade groups listed as supporters praised the launch of the new caucus.

“Lawmakers from across the political spectrum are in overwhelming agreement that this nation
is facing a housing affordability crisis,” NAR said in a statement. “Homeownership is a bipartisan
issue, and we applaud these members of Congress for forming a caucus to work across the
aisle to make housing more accessible.”

MBA also applauded the creation of the caucus, saying it will help “advance housing policy” for
renters and prospective homeowners.

“MBA looks forward to working with this bipartisan group to help more Americans achieve their
dream of housing choice — be that sustainable homeownership or affordable rental
opportunities,” MBA said.

...And then this:

https://stock-spy.com/app/quote/FMCC?articleURL=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fhomebuyers-mixed-news-freddie-mac-180229340.html%3F.tsrc%3Drss&title=Homebuyers+Get+Mixed+News+From+Freddie+Mac+And+The+Federal+Reserve

Mad Maxines Letter wants $150 Bill for Affordable Housing ...

https://www.marketwatch.com/story/americans-expect-mortgage-rates-to-rise-to-nearly-10-in-the-next-three-years-new-york-fed-housing-survey-finds-73e269ad

https://www.insurancejournal.com/news/southeast/2024/05/07/773103.htm

Crappy day !

Return of the Housing Godzillas
Freddie Mac & its Biden regulator want to guarantee second mortgages. What could possibly go wrong?
May 5, 2024 4:46 pm ET
Housing godzillas Fannie & Freddie threatening the countryside again, and better hide the children. https://t.co/nEY7dMnEdp

— Cmdr Ron Luhmann (@usnavycmdr) May 7, 2024

300,000 on the FREDDIE Mac BID ....

yesterday there was definite computer based rapid -

loading of shares as Freddie's Vol passed Fannies ...

The US could give homeowners a $980 billion stimulus at no additional cost, 'Oracle of Wall Street' sayshttps://t.co/HKMvrIWiWI

— Cmdr Ron Luhmann (@usnavycmdr) May 7, 2024

Duty to Serve plans for GSEs lay out how the agencies and their regulator, FHFA, will comply with a federal law that requires them “to prioritize and improve affordable housing finance opportunities.https://t.co/gwh1nuCdMm

— SilverEagle1126 (@Silvereagle1126) May 6, 2024

$3 trillion could be injected into the U.S. economy without any federal spending by tweaking this corner of the mortgage market, ‘Oracle of Wall Street’ sayshttps://t.co/euIxSOLCH6

— Cmdr Ron Luhmann (@usnavycmdr) May 6, 2024

The FNMA/FMCC shareholders time is coming in the near future. The years and years of waiting for Fannie and Freddie (FNMA/FMCC) stocks (FMCC $0.897 Billion in Market Capitalization) to be worth the value of their company business revenue ($50 Billion) will soon be reality to most FNMA/FMCC shareholders. Here is Paul Mampilly's video explaining why we stand to see a very bullish (up) stock price movement from here:

Watch, Learn, and Enjoy if you are a FNMA/FMCC shareholder:

yup, give a fish to a child you feed them for a day, teach the child to fish you feed him for a lifetime. maybe if GSEs go to da moon, I can then fish more often.
we used to catch perch by the hundreds, sometimes in one weekend, in lake Ontario at Mexico Point, had fish fries every Friday. i have fileted more fish than i can count, starting at 5 years old in 1965, i got distracted for decades, may start doing more of it.

Crappy Day!

$Entire $SA article : $Fannie $Mae The Mortgage Insurer: $Long-Term $Trends

May 06, 2024 11:30 AM ET by - Gary J. Gordon

..... Summary .....

--- The Federal National Mortgage Association aka Fannie Mae's primary revenue comes from insuring the risk of owner default on single-family and multifamily homes.

--- Fannie reinsures a lot of its credit risk with private mortgage insurers, other insurers and bond investors.

--- Low current losses are due to conservative underwriting, a healthy housing market, low unemployment and low mortgage debt payments.

--- I expect only modest credit cost increases over the next 5 years.

--- Investors valuing Fannie should assume stable to modestly increasing earnings from the current $17 billion annual base.

I start with a warning label that I will not present a view on a privatization of Federal National Mortgage Association aka Fannie Mae (FNM). I do not have any information of interest on this topic. And I learned over my stock analyst career that guessing on political and legal outcomes is generally a fool’s game.

Rather, for those of you still reading this article, I will discuss how Fannie Mae’s mortgage insurance business works and a longer-term outlook for its earnings.

Fannie Mae is a mortgage insurance company

Fannie’s primary revenue driver is fee income earned by insuring the risk of owner default on single-family homes, and to a far lesser extent, apartment buildings. The beneficiaries of Fannie’s insurance coverage are investors in its mortgage-backed securities (MBS); MBS investors therefore bear no credit risk. Fannie at present insures $3.6 trillion of home mortgage loans and $0.5 trillion of multifamily mortgage loans.

Fannie’s secondary business is owning mortgage assets and short-term securities. At present, it owns $76 billion of mortgage loans and $124 billion of short-term investments. The revenue here is interest income, for which Fannie manages the risk of changing interest rates.

This wasn’t always the business mix for Fannie. While at present loans owned are 2% of loans insured, in 2007 that ratio was 27%. Back then, interest income was far greater than insurance income. But the government mandated that Fannie Mae and Freddie Mac sharply shrink their mortgage investments over time. It looks like the current level is now acceptable to Washington.

So, this is what a summary of Fannie Mae’s income statement looks like today:

Q1 '24 earnings summary ...

Fannie Mae Q1 '24 press release, my summary

Source: Q1 ’24 press release, my summary.

Fannie Mae’s role as a primary mortgage insurer

Fannie Mae is a “primary” mortgage insurer. That means it absorbs all losses on mortgage loans that default in an MBS and that were underwritten to its lending standards. Fannie’s underwriting rules cover credit scores, loan-to-value ratios, appraisals, documentation of borrower income and assets, etc. Mortgage lenders who want Fannie insurance have to guarantee that these underwriting standards have been met. If Fannie discovers after a default or other review that in fact the underwriting was incorrect, the lender has to buy the loan back and absorb the losses itself. That guarantee saved Fannie literally tens of billion dollars following the ’07-’12 housing crisis.

Primary insurance competitors

There are four primary mortgage insurers:

Fannie Mae
Freddie Mac (OTCQB:FMCC), which operates identically to Fannie
Ginnie Mae, which insures FHA and VA government loans and is itself a federal government agency.
Banks/“private label” MBS.

Banks and private label investors can’t profitably compete directly with Fannie, Freddie, and Ginnie because they benefit from being government-sponsored enterprises (GSEs). Rather, the bank/private label group insures loans that the GSEs can’t or won’t insure. The GSEs can’t insure home mortgages above $766,550 in 2024 (higher in some states); these are called “jumbo” loans. And the GSEs won’t insure loans they consider too risky; these are called “nonprime” or “subprime” loans.

Here are the current market shares of newly originated mortgages among the four competitors, as reported by Fannie Mae:

Current primary mortgage insurance market share

Fannie Mae Q1 '24 earnings presentation

Fannie Mae’s secondary insurance protection

Fannie Mae transfers some of its credit risk on its single-family mortgages to three other types of entities:

1. Private mortgage insurers (PMI). Fannie Mae’s charter requires it to get insurance coverage on any loan with less than a 20% down payment. It does so by requiring the borrower to buy PMI, which generally covers 25% of the loan amount. As of the end of Q1, 21% of Fannie’s mortgages had PMI.

2. Other insurance companies provide some insurance coverage on 9% of Fannie’s mortgages.

3. Investors buy securities that share some of the credit risk on 20% of Fannie’s mortgages.

Fannie doesn’t clearly state the loss reduction it receives from secondary insurance each period, but the clues it leaves show the income can be significant. For example,

“The amount by which our estimated benefit from mortgage insurance reduced our total loss reserves was…$4.1 billion as of December 31, 2014” (2015 annual report, page 137).

Long-term earnings issues

OK, we now have an idea of what Fannie Mae does for a living. And the income statement summary above says that Fannie earned $17 billion annualized recently. What should the general direction of earnings look like over the next, say, five years? To address that question, here are the issues I deem the most critical:

The growth rate of Fannie Mae’s MBS
Fannie’s underwriting standards
The health of the housing market
The health of the country’s home mortgage borrowers
Fannie Mae’s summary credit loss outlook.
The growth rate of Fannie Mae’s MBS

Over the last 10 years, Fannie Mae grew its MBS outstanding by 4% a year. To put that number in perspective, let’s look at the key drivers of home mortgage debt: ((A)) household income, which drives the affordability of debt growth, and ((B)) changes in Fannie market share.

Household income growth. Over the past 10 years, U.S. household income grew by 5% annualized. That was 1.5 percentage points faster than home mortgage debt growth of 3%. Forecasting household income is tricky because there are many drivers. But I’ll throw out a 4% forecast to get things rolling.

Market share. Home mortgage debt outstanding grew by 3% a year over the past decade, so Fannie took some market share. But a history of Fannie’s market share shows that it grew from ’14 to ’21, but decreased a bit since then. I believe the reason for the recent decline is that housing affordability declined due to high home prices and the rise in mortgage interest rates. Homebuyers therefore had to move to riskier loan products to qualify for a mortgage, and Fannie has maintained tight lending standards, as you shall see. Going forward, I assume flat to slightly declining market share for Fannie over the next 5 years.

Looking forward, I guess that Fannie’s MBS growth rate will average 2-3% a year over the next 5 years. Not exactly a growth business.

Fannie’s underwriting standards
This chart neatly summarizes Fannie Mae’s underwriting standards. It shows the history of a mortgage underwriting risk index:

Fannie Mae and total mortgage industry underwriting quality index
The Urban Institute

Source: The Urban Institute.

The chart tells us that Fannie’s underwriting standards are:

Consistently tighter than average.

Much tighter than they were during the ’02-’07 housing bubble. Two quick examples. First, subprime loans were 23% of Fannie’s new business in ’06. They are 0% today. And the average FICO score rose from 716 in ’06 to 753 in ’23.

Looking forward, my base case is continued conservative lending standards for Fannie. But the political risk exists of efforts to loosen Fannie and Freddie’s standards to help homebuyers qualify more easily for mortgages.

The health of the housing market

For those of you who have read my articles on PMIs (the most recent is here), the following picture looks familiar. The health of the housing market can be summarized by its vacancy rate – the more vacancies, the riskier, and vice versa. Let’s look:

Housing supply/demand history

The Census Bureau

Source: The Census Bureau.

The U.S. clearly has a housing shortage. This excess of demand over supply keeps home prices up, even with higher mortgage rates, as the last year has taught us.

Looking forward, I expect the shortage of housing to persist, primarily because of new construction limitations and continued immigration. I therefore see a material decline in home prices as a small possibility.

The health of the country’s home mortgage borrowers

Can America’s homeowners keep paying their mortgages? The two primary variables important to that question are the unemployment rate and the “mortgage debt burden” (mortgage payments as a percent of household income). Two charts summarize those variables. First, a history of the unemployment rate:

Unemployment rate history

St. Louis Federal Reserve

Source: FRED.

The current 3.9% unemployment rate is one of the lowest since WWll.

A mortgage debt burden history is here:

Mortgage payments as a percent of household income

St. Louis Federal Reserve

Source: FRED.

Again, at all-time lows.

Looking forward, both the unemployment rate and the mortgage debt burden are likely to trend up. But slowly. The unemployment rate is supported by still-strong employer demand (check out the “JOLT” survey on FRED), while those 3% mortgage originated during ’20 and ’21 will stay on the books for a long time. If so, relatively few mortgage borrowers are likely to default.

Fannie Mae’s summary credit loss outlook

Here is a history of Fannie Mae’s loan charge-offs:

Loan chargeoff history
Fannie Mae 10-K's

Sources: Fannie Mae 10-Ks.

You can see that Fannie’s losses are now minor because of the factors we reviewed above:

Good lending standards
A healthy housing market
Healthy home mortgage borrowers.
Looking forward, my summary of those factors is positive, only a little less than they have been. So loan loss expenses should remain low.

Wrapping up

Fannie Mae’s earnings 5 years from now shouldn't look much different from the $17 billion annualized pace of Q1. The MBS portfolio should be 10-15% larger, but loan losses will be somewhat higher. Whatever your outlook for Fannie Mae’s political status is, I’d factor roughly flat and relatively stable earnings into your valuation.

Editor's Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.

...I'm an avid fisherwoman! A few years ago, I decided to get a NYS lifer sportsman license. Ya figure with these lefty sheeple bozos ruining everything, that's one thing I will stand up for- our constitutional right.

Keep teaching the grand kids the way to fish-enjoy your time with them and they'll learn to be happy & self sufficient! 🤓

Booom ! - Seeking Alpha: Fannie Mae The Mortgage Insurer: Long-Term Trends

May 06, 2024 11:30 AM ET Gary J. Gordon

https://seekingalpha.com/article/4689792-fannie-mae-mortgage-insurer-long-term-trends?source=content_type%3Areact%7Csection%3Asummary%7Csection_asset%3Aall_analysis%7Cfirst_level_url%3Asymbol%7Cbutton%3ATitle%7Clock_status%3ANo%7Cline%3A1

Summary

--- The Federal National Mortgage Association aka Fannie Mae's primary revenue comes from insuring the risk of owner default on single-family and multifamily homes.

--- Fannie reinsures a lot of its credit risk with private mortgage insurers, other insurers and bond investors.

--- Low current losses are due to conservative underwriting, a healthy housing market, low unemployment and low mortgage debt payments.
I expect only modest credit cost increases over the next 5 years.

--- Investors valuing Fannie should assume stable to modestly increasing earnings from the current $17 billion annual base.

I start with a warning label that I will not present a view on a privatization of Federal National Mortgage Association aka Fannie Mae (FNM). I do not have any information of interest on this topic.

went fishin with my grandkids this weekend. Good time teaching them to cast. While meditating, I ponder this coming week for GSEs looks good, I will work on the validity of my statement this week. Obama/Biden Admin reminds me of self destruction of our country. Out in the country this weekend in hill country Texas, I saw lots of sheered sheep in the fields. Putting the 2 together, middle class democrats are the sheep, I see the following.

What’s the sound that a sheep makes when it explodes….. sis boom baahahaha……..


Mongo.

G fees have been about 45 basis points so this is a potential revenue stream of $13.5 B ($3 T ) between fnma and fmcc.

Its $4.5 Billion in Revenue this summer added for fmcc!

Thats $9 B in revenue added by Fall…

HOLY SMOKES !!!! $$$$$ thats like $27 a share eps assuming 1 yr is $18 B added.

FNMA And FMCC To Tap Into $3 Trilion Of New Market , NEW Revenue Stream!!! $$$$$$$$$$$

https://finance.yahoo.com/news/3-trillion-could-injected-u-192408915.html

HOUSE OF F’N CARDS….

BREAKING: The cost of buying a home in the US rises to $2,750/month, the second highest ever recorded, according to Reventure.

Prior to the pandemic in 2022, the average home in the US would cost $1,400/month.

In other words, it is now 100% MORE expensive to buy a home in 2024… pic.twitter.com/7vrKc9SXl6

— The Kobeissi Letter (@KobeissiLetter) May 4, 2024

PacRes Mortgage Celebrates Fannie Mae and Freddie Mac Collaboration With FHA - EIN Presswire https://t.co/wuQauPN8Lg via @ein_news

— Cmdr Ron Luhmann (@usnavycmdr) May 4, 2024

Thanks Navy.

$FNMA $FMCC thoughts. Something is going to happen because of the new politics around mortgage rates. Mortgage rates bottomed out in August 2021 with the 30 yr mortgage at a bit under 3%. Low rates surged real estate prices and home buying.

Rates are now at 7.5% & the market… pic.twitter.com/4ABw7p0aFB

— 🇺🇸Paul Mampilly (@MampillyGuru) May 3, 2024

Paul Mampilly ....

For example, $FNMA $FMCC pre conservatorship was the natural buyer of last resort of MBS in place of the Fed. But they can no longer do this by law. Also, they can't borrow the money they need to replace the Fed. That's also prohibited by law. And they'll definitely need to borrow to do this. Or hire the skill sets to restart this activity.

In many ways things are almost exactly to where they were in 2008. $FNMA $FMCC are in rude health. Their credit is pristine. A clean release from conservatorship will draw debt, stock investors into buy in to these "new" versions of $FNMA $FMCC.

Right now things sit at an impasse in Washington DC where the decision has to be made to do this. The recent price action in $FNMA $FMCC suggests something is happening at government levels to unknot this tangle. What could it be?

Markets seem to be speculating that after 15+ years of conservatorship, the end of it maybe near. If that is right, $FNMA $FMCC have to be some of the best speculation opportunities for spectacular, rapid gains in sudden, shocking and surprising fashion.

We've owned, tracked, monitored $FNMA $FMCC and several of their preferred stocks in the Gold tier @atgdigital_ model portfolios since 2018. These investments are starting to show modest gains now, but in success mode, these could be 📈🚀🚀❗️

Time will tell. Not financial investment advice. Just my opinion take on things.

$FNMA $FMCC thoughts. Something is going to happen because of the new politics around mortgage rates. Mortgage rates bottomed out in August 2021 with the 30 yr mortgage at a bit under 3%. Low rates surged real estate prices and home buying.

Rates are now at 7.5% & the market… pic.twitter.com/4ABw7p0aFB

— 🇺🇸Paul Mampilly (@MampillyGuru) May 3, 2024

We deserve better!!!

pic.twitter.com/alo9IEl8HV

— Sal the Agorist (@SallyMayweather) May 3, 2024

Crappy Day !

Listen to Jared Bernstein SkateBoard savoir - TOTAL IDIOT !

These IDIOTS ARE in POSITION of POWER :-( :-( :-( https://t.co/lCNUnEY5AY

— Cmdr Ron Luhmann (@usnavycmdr) May 3, 2024

$Booooom ! - $Friday $Morning $Initial $Pop is in $Store ...

FNMA - Last $1.48 BID X ASK $1.50 X $1.51 - 33,029 premkt

FMCC - Last $1.38 BID X ASK $1.40 X $1.42 ... 20,000 premkt

Hello folks,
Hope we hear some positive news soon

FHFA Issues Report on Enterprise Single-Family Guarantee Fees in 2022

FOR IMMEDIATE RELEASE - 5/2/2024

https://www.fhfa.gov/AboutUs/Reports/ReportDocuments/GFee-Report-2022.pdf

Washington, D.C. – The Federal Housing Finance Agency (FHFA) today issued its annual report on single-family guarantee fees charged by Fannie Mae and Freddie Mac (the Enterprises). Guarantee fees are intended to cover the expected credit losses, administrative costs, and cost of capital that the Enterprises incur when they acquire single-family loans from lenders. The report analyzes loans acquired by the Enterprises in 2022 by product type, risk class, and lender delivery volume, including a comparison to similar data from loans acquired in 2021.

Significant findings in the report indicate:

For all loan products combined, the average single-family guarantee fee increased by 4 basis points to 61 basis points in 2022. The upfront portion of the guarantee fee, which is based on credit risk attributes (e.g., loan purpose, loan-to-value ratio, credit score), increased by 3 basis points to 17 basis points, on average, in 2022. The increase in upfront fees was driven by a shift from a predominantly refinance market to a predominantly purchase market.

?The average guarantee fee in 2022 on 30-year fixed-rate loans rose by 3 basis points to 63 basis points, while the average guarantee fee on 15-year fixed-rate loans was unchanged at 42 basis points.

The Housing and Economic Recovery Act of 2008 requires FHFA to submit a report to Congress annually on the guarantee fees charged by the Enterprises.

Otting would have stopped the C-ship. That is why he did not get the job. https://t.co/YQpyXsD8j3

— Robert (@robjunier) May 2, 2024

Short Takes: GSEs Revise Guides - bivey@imfpubs.com

The government-sponsored enterprises incorporated the new reconsideration of value
standards from the Federal Housing Finance Agency in updates to their guide books
Wednesday. The GSEs made a number of other changes to their guides, as well.

For example, Freddie Mac will now allow attorney opinion letters instead of title insurance
for mortgages on condo units. And both GSEs established a formal definition for mortgages
to first-generation homebuyers, which could eventually include new reporting requirements
for lenders...

*****************************************************************************************************

FHFA, FHA Set New Standards for Reconsideration of Value
bivey@imfpubs.com

In a coordinated move, the Federal Housing Finance Agency and FHA issued new guidelines
Wednesday for borrowers to challenge appraisals.

“Consistent standards for lenders and appraisers, coupled with a well-understood process
for consumers to challenge appraisal findings, will help ensure that consumers are treated
fairly,” said FHFA Director Sandra Thompson.

Leaders of FHFA and FHA noted that the new standards for reconsideration of value were
part of an effort to address appraisal bias.

The standards, which apply to mortgages set for delivery to the government-sponsored
enterprises along with FHA loans, establish policies for reconsideration of value and other
requirements for lenders regarding appraisal issues.

Another crappy day !

Freddie Mac - Booooom !

Freddie Mac Surpasses Analyst Forecasts w Strong Q1 2024 Performance
Net Income: $2.8 billion, a 39% increase year-over-year, surpassing est $2.3 billion.
Revs: $5.8 billion, up 19% year-over-year, exceeding the estimated $4.877 Bil https://t.co/KCpsmWgI4d via @YahooFinance

— Cmdr Ron Luhmann (@usnavycmdr) May 2, 2024

Freddie Mac Surpasses Analyst Revenue Forecasts w Strong Q1 2024 Performance

GuruFocus Research - Wed, May 1, 2024, 6:01 PM PDT3 min read

Net Income: Reported at $2.8 billion, marking a 39% increase year-over-year, surpassing the estimated $2.3 billion.

Revenue: Achieved $5.8 billion, up 19% year-over-year, exceeding the estimated $4.877 billion.

Provision for Credit Losses: Recorded at $0.2 billion, primarily due to a modest credit reserve build in Single-Family.

New Business Activity: Increased to $62 billion from $59 billion in the prior year's first quarter.

Mortgage Portfolio: Grew to $3.0 trillion, a 2% increase year-over-year.

Delinquency Rate: Improved to 0.52% from 0.62% as of March 31, 2023.

Loan Workouts: Completed approximately 21,000, aiding in the management of delinquencies.

On May 1, 2024, Federal Home Loan Mortgage Corp (FMCC), also known as Freddie Mac, released its 8-K filing, revealing a significant increase in net income and revenue for the first quarter of 2024. The company reported a net income of $2.8 billion, marking a 39% increase from the previous year, and net revenues of $5.8 billion, up 19% year-over-year. These figures substantially exceeded analyst expectations, which had forecasted a net income and revenue of $0.00 million and $4877.00 million respectively.

Freddie Mac Surpasses Analyst Revenue Forecasts with Strong Q1 2024 Performance

Freddie Mac, a cornerstone of the American housing finance system, plays a pivotal role by purchasing, guaranteeing, and securitizing mortgages. It operates primarily through its Single-family and Multifamily segments, with the majority of revenue derived from the Single-family sector. This quarter's performance highlights the company's effective management and operational efficiency, particularly in a challenging economic environment characterized by high interest rates and affordability issues.

Key Financial Highlights

The first quarter saw Freddie Mac's total mortgage portfolio rise to $3.5 trillion, with a notable increase in net interest income to $4.8 billion, up 6% from the previous year. This growth was driven by an expanding mortgage portfolio and higher investments net interest income due to increased short-term interest rates. Non-interest income also surged to $1.0 billion from $0.3 billion in the prior year, primarily due to net investment gains in the Multifamily segment.

The provision for credit losses was $0.2 billion, a slight increase attributed to a modest credit reserve build in the Single-family segment due to new acquisitions and rising mortgage interest rates. Despite these challenges, the company's serious delinquency rate improved, dropping to 0.52% from 0.62% a year earlier, reflecting strong credit performance and effective risk management.

Operational Achievements and Market Impact

During the quarter, Freddie Mac financed 194,000 mortgages and supported 85,000 rental units, with a significant focus on affordability. 54% of the single-family homes and 90% of the rental units financed were affordable to families earning at or below 120% of the area median income. This underscores Freddie Mac's commitment to its mission of making home ownership and rental options accessible to more Americans, particularly low- to moderate-income families.

The company's efforts to enhance liquidity and stability in the housing market are evident in its new business activities, which totaled $62 billion, up from $59 billion in the same quarter the previous year. Additionally, Freddie Mac's strategic use of credit enhancements covered 61% of its mortgage portfolio, further securing its financial footing and protecting against potential losses.

Looking Ahead

As Freddie Mac continues to navigate the complexities of the housing market and broader economic conditions, its strong first-quarter performance provides a solid foundation for future growth. The company remains focused on its mission to stabilize the housing market and provide continued support to homeowners and renters across the United States.

For more detailed information on Freddie Mac's financial results and operational strategies, investors and interested parties are encouraged to review the full earnings report and supplementary materials available on the company's website.

Explore the complete 8-K earnings release (here) from Federal Home Loan Mortgage Corp for further details.

Mazo is wrong again - It wasn't Calabria that stopped it you can put that blame on Mnuchin.... Otting would have be stopped also.

Strong ties to banking?

https://en.wikipedia.org/wiki/Mark_A._Calabria

Kangaroo court room very true as long as the crooked regime in charge period. Bottom line the crooked using the BS power try suppress whoever against them. Anti-Semitism word so ridiculous and so outdated people around the world have the right to stand up the dictator regime. So every time any words again Israel call the Anti-Semitism by the stupid media framing for the people stand up their right and their freedom suppress by the lunatic war monger leader Israel. Again the world we live now do have good apple and bad apple get the point hates media so please stop calling people around the world to fight for their free doom and their ancestor land confiscate by Israel regime consider Anti-Semitism very BS and not very true. No one hate Israel people except the war monger leader of Israel cooked regime in charge causing the world wide unstable period.

https://apnews.com/article/trump-wisconsin-michigan-battleground-trial-gag-order-f3d448782edc81e10274cf99175f3844?utm_source=newsshowcase&utm_medium=gnews&utm_campaign=CDAqDwgAKgcICjCE7s4BMOH0KDDHndUC&utm_content=rundown

What is it many people mind and don't get the fact that no matter how much F&F earning it doesn't matter. As long as the crooks regime in charge and F&F in Cship. The SP still in OTC and the mm still easily manipulation with the blessing green light from the the crooks. Only MAGA by DJT reclaim the WH this Nov then F&F will be out of Cship and the crooks regime will get kick out and freedom will be ring on F&F SH at last! The try to shake DJT out everything they could and so far the crooks regime fail miserably. I can only hope this Nov GOP take over the House and Senate and pretty sure DJT in WH then it is pay back time for what the crooks done. Shame on them too many things need here instead of go other country to protecting as the cost by taxpayers and continue liars to the American public. Again, watch the crooks talk then compare what the crooks does.. 95 Billion from taxpayers no issue but for F&F SH won by the judgement until now still fought tooth and nail court here and there under the porky judge know nothing about the law what right and wrong except wearing the BS clown rope. You be the judge.

cant argue with that, He understood it all, I wonder if Otting and Mnuchin have common shares as of today....I believe they do, and understand what must happen, even if under recessionary pressure, which may be coming this way.

Another quarter of very solid income and another quarter of shareholders getting zilch! #Fanniegate $FNMA https://t.co/UlUpI1sJWB

— GSE News (@GSE_NewsToday) April 30, 2024

How is it possible that Calabria got the job over Otting - who has on-the-ground experience and expertise in running financial organizations and will prove his worth once again as the turnaround CEO of NYCB?

He could have taken Fannie/Freddie out of conservatorship but… https://t.co/YEmsUGi46P

— Alec Mazo (@Alec_Mazo) May 1, 2024

So we are all clear on GSE assault everywhere, KT is Carney, and has several handles on social medias.