Both GSEs reported financial results for the third quarter of 2020 that were significantly higher than both their Q2 2020 and their 2019 numbers . Fannie Mae’s net and its comprehensive incomes were $ 4.2 billion and Freddie Mac’s net and comprehensive incomes came in at $ 2.5 billion and $ 2.4 billion, respectively. Fannie Mae’s comprehensive income in the second quarter was $ 2.5 billion and it was 4.0 billion a year earlier. The company says the higher 3 rd quarter results were due to higher amortization income from higher mortgage prepayment activity as borrowers refinanced into historically low rates. The company’s net interest income was $ 6.7 million, up 879 million from the previous quarter. Year-to-date (YTD) the net interest income is up $ 2.4 billion from the first nine months of 2019
Mortgage Newsletters and Market Analysis