Fannie Mae and Freddie Mac (the GSEs) reported
their respective third quarter 2021 financial results on Friday. Both posted
significant increases in net income from the same period in 2020 but results for
each were lower than reported in Quarter Two. Fannie Mae says it had $4.8 billion net
income for the third quarter of 2021, down from $7.2 billion in the second
quarter but an increase of 14 percent from the $4.2 billion net in the third
quarter of 2020. Income declined from $8.4 billion in the prior quarter to $7.1
billion but this was up 5.0 percent compared to the $6.8 billion in net revenues
a year earlier. The company said the quarter-over-quarter decline was driven by
lower net interest income and a $1.7 billion drop in credit related income.

 

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