Timing differences in their provisions for loan losses allowed Fannie’s first-quarter profits to more than double while Freddie’s climbed just 13.2% compared with the fourth quarter. (Includes data chart.)

Almost all of the decline in combined GSE profits was due to a spike in loan-loss provisions. But while Fannie’s provisions continued to grow in the fourth quarter, Freddie’s may have peaked in the third quarter. (Includes data chart.)

Fannie Mae put money away for a rainy day; Freddie Mac postponed its fourth-quarter earnings report.

Purchase-mortgage business held steady in Fannie/Freddie MBS issuance in July while refinance volume continued to drop. (Includes two data charts.)

The GSEs earned a combined $20.5 billion in theoretical net income under the severely adverse economic scenario of the 2022 stress tests. But those returns would vanish if they had to reserve for deferred tax assets.

The timing of credit-related benefits and losses affected the profits of Fannie and Freddie in the first half of 2022. (Includes data chart.)

The GSEs’ latest SEC filings reveal a combined capital shortfall of $359 billion at the end of the first quarter. But combined earnings were a healthy $8.21 billion for the quarter. (Includes data chart.)

Outstanding Federal Home Loan Bank advances ticked up at the end of 2021, halting a nearly two-year decline. (Includes two data charts.)

Credit-related income boosts profits at Fannie Mae; fair value losses at Freddie Mac keep net income growth in check.

Fewer refinancings mean Fannie Mae’s and Freddie Mac’s amortization incomes from prepayments are in decline. (Includes data chart.)