Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
2011 housing market economy created issues for Fannie Freddie
WASHINGTON (6/14/12)—Instability in housing markets and the economy in general continued to challenge government-sponsored enterprises Fannie Mae and Freddie Mac in 2011, but all Federal Home Loan Banks (FHLBanks) reported positive annual earnings in that same year, the Federal Housing Finance Agency (FHFA) said in an annual report sent to the U.S. Congress Wednesday.

The FHFA annual report, which is its fourth on the GSEs, noted that Fannie and Freddie were "critical supervisory concerns" for the FHFA in 2011. It said the continued losses at those GSEs were mostly tied to mortgage loans that were originated between 2005 and 2007.

Fannie and Freddie guaranteed around $100 billion in new mortgages per month in 2011, accounting for three of every four mortgages that were originated during that year, the FHFA added.

While FHLBank performance and financial condition remained stable, they "continued to be negatively affected by their exposure to private-label mortgage-backed securities," the report added. FHLBanks ended 2011 with $766.4 billion in total assets, a decline from the $878.3 billion in assets reported in 2010, the FHFA said.

For the full FHFA report, use the resource link.
Other Resources

RSS print
News Now LiveWire
Consumers stashing #cash in checking accounts: Moebs #NewsNow http://t.co/WPaPkzHufK
2 minutes ago
.@CUANYtweets hiking the Hill today with young #creditunion professionals http://t.co/9xgH2Aw2OM
11 minutes ago
.@CUSocialGood, @CafeGive partnership to measure Return on Intent for social, community efforts See #NewsNow http://t.co/LfpUes76KG
58 minutes ago
Economic activity slowed in June, according to the #Chicago Fed's national activity index, released today #Market http://t.co/1pN6peM8my
16 hours ago
Money burns a hole in workers' pockets after payday, despite best intentions via @WSJeconomy http://t.co/A9SNiUdf9v
16 hours ago