Fannie and Freddie Note Dramatic Decline in Buyback Activity While Racking Up Huge Profits in Second Quarter
August 15, 2013
Fannie Mae and Freddie Mac posted a combined $15.1 billion in profit during the second quarter of 2013, along with the lowest inventory of repurchase activity since the two government-sponsored enterprises went into government conservatorship and began aggressively enforcing representations and warranties provided by sellers and servicers. As of the end of June, the two GSEs had a combined $5.78 billion in outstanding repurchase demands, a 16.8 percent decline from the first quarter. Although Fannies unresolved buyback caseload was...[Includes one data chart]