Quarterly Gains Reported by Fannie and Freddie

By on May 31, 2021

first_imgHome / Daily Dose / Quarterly Gains Reported by Fannie and Freddie About Author: Eric C. Peck Previous: The Week Ahead: Examining the Climate’s Impact on Housing Infrastructure Next: After 9 Weeks of Steady Improvement, Forbearance Activity Rises Servicers Navigate the Post-Pandemic World 2 days ago  Print This Post in Daily Dose, Featured, Journal, News The government-sponsored enterprises (GSEs) have reported their Q1 financials, with both Fannie Mae and Freddie Mac continuing show strength in a challenging marketplace.In the first quarter of 2021, Fannie Mae reported a net income of $5 billion, an increase over Q4 of 2020’s net income of $4.6 billion. Freddie Mac reported a Q1 net income of $2.8 billion, up slightly over the Q4’s totals of $2.6 billion.“COVID-19 continues to present challenges and opportunities for homeowners and renters,” said Hugh R. Frater, CEO of Fannie Mae. “We had another quarter of near-record mortgage volumes as many took advantage of low rates to refinance or purchase a home. In addition, more than two-thirds of the 1.3 million homeowners with Fannie Mae loans who entered forbearance have since exited, even as we continue to help others find solutions. I’m proud of our steady performance and continuing focus on helping homeowners and renters through uncertain times.”The Mortgage Bankers Association (MBA) estimates that an approximate 2.25 million homeowners remain in forbearance plans nationwide. GSE actions have assisted thousands of Americans remain in their homes during the pandemic through a number of forbearance options and plans.Fannie Mae stated that more than 1.3 million single-family forbearance plans were initiated to help borrowers since the onset of the COVID-19 pandemic; as of March 31, 2021, with approximately 920,000 of these loans having exited forbearance, including nearly 337,000 through reinstatement and 275,000 through Fannie Mae’s payment deferral option.Freddie Mac extended its single-family foreclosure and eviction moratorium covering approximately 12 million homeowners, until at least June 30, and extended forbearance plans to a maximum of 18 months for the approximately 230,000 single-family borrowers remaining in forbearance.“Similarly, we extended COVID-19 related forbearance to qualifying multifamily property owners for another three months to June 30. And, tenants of those properties remain protected from eviction for non-payment of rent,” said Christian Lown, CFO of Freddie Mac. “Overall, we helped hundreds of thousands of at-risk homeowners and renters remain in their homes, while supporting a vibrant U.S. housing finance system that remained a source of strength for the national economy.”Fannie Mae acquired approximately 340,000 home purchase loans and 1.1 million refinance loans during Q1, as scores of U.S. homeowners continued to take advantage of low interest rates in the quarter. Freddie Mac reported new business activity of $362 billion increased on strong home purchase and refinance activity, compared to Q1 of 2020, but declined slightly from Q4 of 2020.“We helped nearly 94,000 families remain in their homes through Single-Family loan workout activity that increased from 11,000 in the prior year quarter, driven by completed forbearance agreements and payment deferrals primarily related to the COVID-19 pandemic,” said Lown.Click here for more on Fannie Mae’s Q1 2021 results and click here for more on Freddie Mac’s Q1 2021 results. Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Christian Lown Fannie Mae Forbearance Freddie Mac government-sponsored enterprises (GSEs) Hugh R. Frater Mortgage Bankers Association (MBA) 2021-04-30 Eric C. Peck Demand Propels Home Prices Upward 2 days ago Quarterly Gains Reported by Fannie and Freddie Eric C. Peck has 20-plus years’ experience covering the mortgage industry, he most recently served as Editor-in-Chief for The Mortgage Press and National Mortgage Professional Magazine. Peck graduated from the New York Institute of Technology where he received his B.A. in Communication Arts/Media. After graduating, he began his professional career with Videography Magazine before landing in the mortgage space. Peck has edited three published books and has served as Copy Editor for Entrepreneur.com. Related Articles Servicers Navigate the Post-Pandemic World 2 days agocenter_img Data Provider Black Knight to Acquire Top of Mind 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Sign up for DS News Daily The Best Markets For Residential Property Investors 2 days ago April 30, 2021 739 Views Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Subscribe The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save Tagged with: Christian Lown Fannie Mae Forbearance Freddie Mac government-sponsored enterprises (GSEs) Hugh R. Frater Mortgage Bankers Association (MBA)last_img read more

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Thor Industries preparing their facilities to open production up in May

By on April 20, 2021

first_img Pinterest Thor Industries preparing their facilities to open production up in May Google+ Twitter Twitter WhatsApp Pinterest Google+ WhatsApp Facebook Facebook (Photo supplied/Thor Industries) People are anxious to get back to work and for some RV manufacturing employees that may happen sooner rather than later. Thor Industries says that starting May 4th, they will begin getting back to work, barring any unforseen problems.The company’s European production has already started back up, and they are working on ways to make sure employees are safe when US production turns back on. New measures to protect employees were detailed in a company release; that will include making sure workers have their appropriate PPE at all times, everyone has access to hand sanitizing stations, full face shields will now be required for certain line workers, they will enforce social distancing in common areas, and ramp up the frequency of cleaning and disinfecting.The Elkhart Truth reports before the pandemic halted the industry, Thor had a strong start to the selling season. You can find the full report here. By Carl Stutsman – April 17, 2020 0 718 CoronavirusIndianaLocalNewsSouth Bend Market Previous articleWoman injured in Elkhart crash filing suit against city and officersNext articleProtest planned for Indiana Governor’s Mansion on Saturday Carl Stutsmanlast_img read more

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Future Stars, Bent Street, Back Circle and Tiger Bay move into Corona semis

By on September 18, 2020

first_imgTHE final four of the 2019 Corona Futsal competition have been decided following the quarter-finals on Monday night.Future Stars, Bent Street, Back Circle and Tiger Bay all recorded contrasting wins to move into the next round.The first game between Stars and West Front Road ended 2-2 in regulation time and required penalties. West’s Andy Duke opened the scoring in the 9th minute before Daniel Ross brought things level in the 17th. Collin Nelson granted West the lead once more in the 19th before a last-ditch effort from Randel Bowman sent the game to penalties.Keiron Salomon, Shemar Fraser and William Europe converted from the spot to send Future Stars through. Collin Nelson and Jamal Pedro each scored but Randolph Wagner missed his shot.Bent Street made light work of California Square 4-1 in a one-sided affair of game two. Pernel Shultz brace (14th and 17th) coupled with Sheldon Holder’s (10th) minute goal and Daniel Wilson’s 20th minute strike ensured the win. Meshaka Barrat scored California’s lone goal.Back Circle were also easy winners over North-East La Penitence via 5-2 margin. Trayon Bobb’s hat-trick (6th, 16th & 19th) alongside single strikes by Stephen Williams (18th) and Dellon Kelly (5th) ensured victory while Keifer Brant’s 4th & 16th-minute braces were consolation.In game four, Sparta Boss were eliminated 3-4 by Tiger Bay.Back-to-back goals by Deon Alfred (22nd and 24th) and Isaiah Andrews (24th) meant that Tiger Bay took a big lead before Sparta realised what was happening. Eventually, Sparta got into their groove with Gregory Richardson scoring in the 25th and Eusi Phillips in the 26th but Leon Gravesande’s 28th minute strike restored the two-goal lead for Tiger Bay.Jeremy Garrett would score once for Sparta in the 29th but that was not enough to avoid elimination.The semi-finals are billed for June 1, with the final set for June 8.last_img read more

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Memela hits two as Micho’s Pirates beat Chiefs in Soweto derby

By on August 13, 2020

first_imgThembinkosi Lorch gave Pirates the lead on 21 minutes in the Soweto cauldron and Colombian Leonardo Castro levelled just before the half hour.Sundowns have 43 points, Pirates 39 and Free State Stars 37 in what is developing into a three-team battle for glory with seven rounds remaining.Maritzburg United and Chiefs share fourth place, eight points adrift of 2016 African champions Sundowns, and it is difficult to imagine either side becoming champions.“I have been waiting a long time for the opportunity to play in a Soweto derby,” said man-of-the-match award winner Memela.“It is a wonderful feeling to score twice but as much as I am happy, I am even happier for my team, Orlando Pirates.”Serbia-born Pirates coach Milutin “Micho” Sredojevic said the second goal was crucial after his team had been regularly overrun in midfield during the opening half. Belgian coach Luc Eymael has transformed Stars from central town Bethlehem into title challengers after many of his predecessors waged struggles against relegation.Maritzburg United snapped a run of losses in all competitions against SuperSport United by forcing a 0-0 draw in Pretoria thanks to many saves from Ghana goalkeeper Richard Ofori.Share on: WhatsApp “Scoring so early in the second half was a blessing for us because clever Chiefs tactics meant we found ourselves outnumbered in the middle of the field for much of the first half.”Chiefs coach Steve Komphela remains trophy-less well into his third season with the club and is sure to face renewed public and media calls to quit after the derby defeat.“Pirates’ second goal killed us,” he admitted. “It boosted their morale, deflated us a little and we had to reshuffle.“It was a good game for neutrals, a good game for the crowd, but a bad result for my team and I.”Ghanaian Mohammed Anas, who went viral last year after thanking his wife and girlfriend in a post-match interview, scored two late goals to give Free State a 2-1 win at bottom club Platinum Stars.center_img Luvuyo Memela celebratesJohannesburg, South Africa | AFP | Soweto derby debutant Luvuyo Memela came off the bench to score twice and hand Orlando Pirates a pulsating 3-1 South African Premiership victory over greatest rivals Kaizer Chiefs Saturday.Memela was introduced for the second half before an 84,000 crowd at the Soccer City stadium and scored within 30 seconds to put Pirates ahead for the second time.His second goal on 74 minutes sealed maximum points for the Buccaneers and kept them hot on the heels of leaders Mamelodi Sundowns in the title race.last_img read more

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