Both Fannie Mae and Freddie Mac reported improved income during
the first quarter of 2021. Fannie Mae said its net income increased from $4.57
billion in the fourth quarter of 2020 to $4.99 while Freddie Mac reported a net
of $2.77 billion and comprehensive income of $2.38 billion, down slightly for
the quarter but significantly higher than a year earlier. Fannie Mae said its net revenues totaled $6.829 billion, down from
$7.245 billion the previous quarter, with a decline f $344 million in interest
income and $72 million less in fee and other income to $6.74 billion and $87
million, respectively. The decline in interest income was due to lower levels
of single-family mortgage prepayments in the first quarter. The company expects
that lower levels of refinancing in the future will likely result in fewer loan
prepayments and lower amortization income in any given period.


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