The combined second quarter 2015 earnings of Fannie Mae and Freddie Mac increased 2 point 4 billion dollars from the first quarter to a total of 8 point 8 billion dollars, according to the Quarterly Performance Report of the Housing GSEs from the Federal Housing Finance Agency.
The major drivers of the increase were net interest income and gains on derivatives as increases in swap rates contributed to earnings. The Federal Home Loan Bank System reported a total net income of 669 billion dollars in the second quarter of 2015, down 355 million dollars from 1 point 023 billion dollars in the first quarter. FHLBanks’ net income was lower due to lower net interest income and higher operating expenses.
The Five Star Institute is expanding its footprint in the burgeoning single-family rental market with its inaugural Single-Family Rental Summit October 11 to 13, 2015, in Las Vegas. The summit, co-hosted by Investability and OwnAmerica, will include labs covering such topics as acquisition, securities, financing, insurance and law, disposition strategies for the SFR market, and rehab.