Fannie Mae-No Politics (FNMA)

[KINGMADE]

GOOD STUFF GOING AROUND ON YAHOO FMNA BOARD

June 18, 2013 – A look at last year’s performances by Fannie Mae, Freddie Mac and the Federal Home Loan Banks is provided in a 2012 annual report released last week by the Federal Housing Finance Agency.

The report notes both the funds that have been drawn on Treasury to keep Fannie and Freddie going since they were place in conservatorship as well as the entities’ earnings.

NAFCU stays in close contact with the FHFA on the status of the two GSEs as well as the FHLBanks. All three are valuable sources of mortgage liquidity for credit unions, and NAFCU is working to ensure that Congress’ reform of the housing finance system ensures credit unions continued, unfettered access to the secondary market for mortgages.

Here are highlights from the FHFA’s 2012 report:

Fannie’s and Freddie’s cumulative draws on Treasury totaled $187.5 billion through year-end 2012. The entities have paid $55.1 billion in cash dividends to Treasury.
Fannie and Freddie together guaranteed $1.3 trillion in new mortgages; that is 77 percent of all mortgages originated in 2012.
Since the first quarter of conservatorship in September 2008, the entities have completed nearly 2.7 million actions to prevent foreclosures; more than half were loan modifications.
For the third year in a row, the FHLBanks recorded positive annual earnings. Last year was the banks’ most profitable since 2007.
All 21 FHLBanks met the minimum total regulatory capital requirements last year.

Earlier this spring, Fannie and Freddie reported that they will repay taxpayers additional amounts that would reduce their $187.5 billion debt to approximately $66 billion.

http://finance.yahoo.com/mbview/threadview/?&bn=e0e2b58d-64fb-37a2-9273-29a5ce093d80&tid=1372800350834-2e749e29-702a-4da5-873e-4e8ea930a28a&tls=la%2Cd%2C2%2C3