Fannie Mae (QB) (FNMAH) Share Price

Freddie Mac reports strongest earnings since 2021

The GSE's net worth is now nearly $60 billion

February 13, 2025, 9:58 am By Sarah Wolak

https://www.housingwire.com/articles/freddie-mac-reports-strongest-earnings-since-2021/



Freddie Mac recorded a net income of $3.2 billion for Q4 2024 and $11.9 billion for

the full year 2024, it reported this morning. The full-year net income figure marked

an increase of 13% from 2023. Comprehensive income increased 11% from 2023

to $11.9 billion.

In its earnings call, Freddie Mac’s Executive Vice President and Chief Financial Officer

James Whitlinger noted that the GSE delivered its strongest earnings since 2021,

with its net worth reaching nearly $60 billion.

“We also continued to support other market participants,” Whitlinger added during
the call. “For example, last year alone, Freddie Mac acquired more than 1 million
loans from over 1,000 lenders of all sizes across the country. We packaged those
loans into mortgage-backed securities (MBS) that attracted investors from around
the world to support U.S. housing.”

Freddie Mac purchased loans for cash and issued MBS totaling more than $411 billion
in 2024, up 18% from 2023, Whitlinger added. The proceeds enabled Freddie Mac
to help nearly 1.6 million families buy, refinance or rent a home. Fifty-two percent of
the primary home purchases Freddie financed went to first-time homebuyers, and
53% of all the home loans it financed were affordable to low- and moderate-income
families.

Freddie also financed 553,000 rental units, with 93% of eligible units affordable to
low- to moderate-income families.

“Full-year net revenues of $23.9 billion were up $2.7 billion, or 13%, year over year.
Our 2024 net interest income of $19.7 billion was up 6% year over year primarily
driven by continued mortgage portfolio growth, which rose 3% year over year, and
lower funding costs driven by our increase in our net worth, which grew by 25%
year over year,” said Whitlinger.

Freddie’s total mortgage portfolio grew 3% year over year to $3.6 trillion at the
end of 2024, which the GSE says was driven by a 2% increase in its single-family
mortgage portfolio and a 6% increase in its multifamily mortgage portfolio.
Fourth-quarter results

Shifting into Q4 2024’s numbers, Whitlinger reported that Freddie Mac raked in a
net income of $3.2 billion, an increase of $308 million or 11% from Q4 2023.

Net revenue for the fourth quarter totaled $6.3 billion, an increase of $956 million,
or 18%, year over year, which was “driven by increases in both net interest income
and non-interest income.”

Fourth quarter net interest income of $5.1 billion was up 6% from the prior-year
quarter. The increase in net interest income was primarily driven by continued
mortgage portfolio growth and lower funding costs due to increasing net worth,
Whitlinger stated.
Single-family and multifamily results

Freddie Mac’s single-family segment reported full-year net income of $9.4 billion,
an increase of $318 million, or 4%, from the prior year. For Q4 2024, net revenues
for single-family were $5.2 billion, up 9% year-over-year. Net interest income was
$4.7 billion, up 4% year-over-year.

The GSE’s multifamily segment had a Q4 2024 net income of $0.7 billion, up from
$0.3 billion in Q4 2023. For the full year 2024, the segment posted a net income
of $2.5 billion, up 67% year-over-year.

yes - to have a price per share - you start with profit per share now and anticipated ..... and discount say 10 years back to today

we - equity holders - NYSE - whomever - simply need to know the number of shares

Right now for FNMA its 1-1.5B shares --- but with warrants - say 5Bshares - and with LP/SP cram down 100B shares

Nothing 'SANE' about the boat we are in!!
Your misspell completely appropriate for the GSE's current situation.
I believe Ackman should be taking a different tact at this point. He should not be playing footsie with the Govt but rather should be pursuing justice for Fannie and Freddie by demanding the release of the privileged 11,000 documents to showcase the fact that we were not treated fairly or "in good faith" by the govt and FHFA. Push the warrants talk aside until the shareholders are given proof that there was not "malice" or malfeasance on the part of the govt to drive the companies into bankruptcy. Why was the net worth sweep 100% of all profits, when the govt only owned 79.9% of the stock? Why wasn't 20% of the profits given to the shareholders? This was discrimination and also a violation of HERA that "no dividends were to be paid out while the GSE's were in Conservatorship"

Ackman should sue for release of the documents, and for return of the $50 Billion+ in settlements that the companies received, and were quickly ordered to send to Treasury. Once these two items are addressed, I will gladly agree to Ackman's design for release from C-ship......

Mirror, mirror on the wall, who's the DUMBEST of them all?

Zandi, of course, who said ""A release is a lose-lose for taxpayers, homebuyers, the housing market, the economy, everybody is worse off than the status quo."

Blow out Earnings despite this challenging
Mortgage rate environment -

just imagine what the GSE could do if Mortgage rates
dip below 6% -

Yes
Now work on or hope for the GOV killing the LP which is per TREASURY is an obligation to them for every penny put into reserves

That is the smoke and mirror deal on the NWS ------- cash to F and F and count as reserves BUT the LP (the amount owed on the Senior Paper - the counter of that value) goes up same amount

BUT - if the LP and or both the LP and SP are declared paid --- YUP then the cash reserves are wonderful

Right now the GOV math (and they have the power) has F and F at negative reserves due to what THEY say is owed to them

From the Freddie Mac 8K on Jan 2, 2025 ...

Item 1.01. Entry into a Material Definitive Agreement.

On January 2, 2025, the Federal Housing Finance Agency (FHFA), acting as Conservator for Freddie Mac
(formally known as the Federal Home Loan Mortgage Corporation), and the U.S. Department of the Treasury
(Treasury) entered into a letter agreement (January 2025 Letter Agreement), amending the Amended and
Restated Senior Preferred Stock Purchase Agreement dated as of September 26, 2008, as amended
(Purchase Agreement).

January 2025 Letter Agreement

The January 2025 Letter Agreement amends Purchase Agreement provisions at Article 5.3 that required
prior Treasury consent to an exit from conservatorship, except an exit through receivership or if certain
conditions related to resolution of pending significant litigation and capital accumulation were met.
As amended by the January 2025 Letter Agreement, the Purchase Agreement now requires Treasury’s
prior consent to an exit other than through mandatory receivership.

The Purchase Agreement was also amended to remove certain provisions in Article 5 that generally
limited Freddie Mac’s ability to acquire certain types of mortgage loans. These provisions, which were
included pursuant to a letter agreement dated January 14, 2021 between FHFA, acting as Freddie
Mac’s Conservator, and Treasury, had been suspended since September 2021 pursuant to a letter
agreement dated September 14, 2021. The removed provisions include the limitations on: acquiring
for cash from any single seller in a year single-family mortgage loans with a principal balance in
excess of $1.5 billion; the acquisition of certain loans with more than one higher-risk characteristic;
and the acquisition of loans secured by investment properties or second homes. The January 2025
Letter Agreement also removes the multifamily loan purchase cap and the requirement that a certain
percentage of multifamily loan acquisitions are classified as mission-driven pursuant to FHFA’s
guidelines. However, the multifamily loan purchase cap established annually by FHFA and included
in the Conservatorship Scorecard remains in effect. For a summary of the Purchase Agreement,
see our Annual Report on Form 10-K filed on February 14, 2024 (the 2023 Annual Report), under
the heading “MD&A – Conservatorship and Related Matters – Purchase Agreement, Warrant,
and Senior Preferred Stock.”

The January 2025 Letter Agreement also removes a provision in the Purchase Agreement that required
compliance with the Enterprise Regulatory Capital Framework (ERCF) in effect in January 2021,
regardless of subsequent amendments to the ERCF. The January 2025 Letter Agreement requires
that Freddie Mac comply with the ERCF as it is amended from time to time. The January 2025
Letter Agreement also makes clarifying changes to the definitions of “Indebtedness” and
“Mortgage Assets” and to the notice provisions in the Purchase Agreement.

The description of the January 2025 Letter Agreement in this report is qualified in its entirety by reference
to the full text of the January 2025 Letter Agreement, which is filed as Exhibit 10.1 to this report and
is incorporated herein by reference.

Item 8.01 Other Events

FHFA and Treasury also entered into a side letter agreement on January 2, 2025 (Side Letter), that
sets forth certain procedural steps that FHFA will take before requesting Treasury’s consent to terminate
the conservatorship as set forth in Article 5.3 of the Purchase Agreement.

Side Letter

The Side Letter provides that prior to any termination of conservatorship other than by means of
receivership, FHFA will issue a public request for information outlining in detail one or more specific
options for the termination of conservatorship and seek input on the potential impacts of each option
on the housing market and on Freddie Mac and Fannie Mae. Following the public input period,
FHFA will brief the Financial Stability Oversight Council on a summary of the public input received,
including input about factors related to each option that could have potential impacts on
US financial stability.

Thanks for your reply Frosty. You’re right the companies are limited to the U.S. market, but both companies are private shareholder owned corporations and possibly could create a subsidiary serving the Canadian markets. The president wants Canada as the 51st state. Apparently, it’s costing our country $200 billion on this imaginary border line between the two nations. The United States does not need any goods our services from Canada that couldn’t be produced in the states. Just thinking outside the box.

You might want to consider taking a class at your local community college, on basic grammar and sentence construction. Good luck!

Social rejects everyone making money?

PAGE 41 and 96 and 99 https://investorshub.advfn.com/secure/post_reply.aspx?message_id=175802986

Page 96 is interesting % of SPSA and common
Senior preferred stock 72,648 72,648
Preferred stock 14,109 14,109
Common equity (27,182) (39,035)

Page 114,
We can be put into receivership at the discretion of the Director of FHFA at any time for a number of reasons consistent with
the GSE Act and the Purchase Agreement, to the extent applicable by law. For additional information, see our Current Report
on Form 8-K filed on January 8, 2025.

So if the Director can place them in BK then he can release them also ?

RELEASE THE DOCS, UPLIST NOW U CORRUPT MF’s !

From the Freddie Mac Sec Filing ....

Treasury, as the holder of the senior preferred stock, is entitled to receive cumulative
quarterly cash dividends, when, as, and if declared by the Board of Directors.
The dividends we have paid to Treasury on the senior preferred stock have been
declared by, and paid at the direction of, the Conservator, acting as successor
to the rights, titles, powers, and privileges of the Board of Directors.

Pursuant to the January 2021 Letter Agreement amending the Purchase Agreement,

Freddie Mac will not be required to pay a dividend to Treasury

on the senior preferred stock until it has built sufficient net worth

to meet the capital requirements and buffers set forth in the ERCF.

As the company builds capital during this period, increases in our Net Worth Amount
have been, or will be, added to the aggregate liquidation preference of the senior
preferred stock. To the extent our Net Worth Amount exceeds capital requirements
and buffers set forth in the ERCF, dividends on the senior preferred stock
will be payable to Treasury.

The 10K is out now.

https://www.freddiemac.com/investors/financials/pdf/10k_021325.pdf

The 10-K should come out next week - we should see what changes there are in the Footnotes relating to a possible EXIT. Craig Philips did not go there to twiddle his thumbs.

FnF service the US Mortgage market only at this time. This is why they are a Government Sponsored Enterprise. They would not be allowed to move into foreign markets.

Considering your boy had them archived under National Security for the VERY purpose of ensuring that they never be seen, it's pretty safe to assume what they'd say. Yep...he's a real man of the people.

At this point this pps is not even normal. This is going to explode .. JMO

Thinking ahead into the future CAGR Fannie and Freddie moving into new global mortgage markets. I asked the questions under the current charters are the companies allowed to expand their book of business in this way? And if so, what would be the potential Compound Annual Growth Rate of the Earnings Power of the Businesses? Allowing Fannie and Freddie to expand their businesses into a new market with our closest neighbor Canada. The President talked about the imaginary border line between the United States and Canada.

parrot speaking through Zandi

Patswill is right. Get ready.

Times 14 = $256.20 🚀

Schwab is showing FNMA @ $7.10; FMCC $6.49.

yes if the LP is declared to be zero

otherwise an = amount is added to what Treasury says is an obligation to them - (yes smoke and mirrors) - and then it matters not

the smoke and mirror - keep the cash and write an IOU - is a game --- BUT it is a game we win if the LP is written down to zero

Profit per share is way more important, but I hope you already know that. Simply another used car salesman tactic to mislead folks on shr potential value of shares.

I got more oatmeal to eat, then heading for a workout. Post L2 in case my internet goes down.

?
like the AEI and the Heritage folks - the Urban Institute starts with an economic philosophy

what they then "say" is heard - but heard with knowledge of that starting bias (the same way many of us listen to Calabria or Zandi)

As a Liberal capitalist - I am not sure why a left leaning approach would be against an equity owned F and F ---- since it worked for 40-50 years before 2008 ( I think it became "private equity" in 1968 or so?)

?
like the AEI and the Heritage folks - the Urban Institute starts with an economic philosophy

what they then "say" is heard - but heard with knowledge of that starting bias (the same way many of us listen to Calabria or Zandi)

As a Liberal capitalist - I am not sure why a left leaning approach would be against an equity owned F and F ---- since it worked for 40-50 years before 2008 ( I think it became "private equity" in 1968 or so?)

Net income is after overheads and taxes. Once free of conservatorship, market will determine PPS. A conservative PE of 10 would make the PPS over $180.

Per quarter? Holy foch...

Freddie Mac Yearly earnings = $18.30 per share !! -

net income FY24 _ $11.9 Bil / 650,000,000 shares = $18.3 /Share ! _

Freddie Mac Intrinsic Value $367.97

Earning Power of the Business
Freddie Mac common stock outstanding 650,059,553

Net earnings $3.2 billion per quarter, $12.8 billion net per year.

$12.8 billion net / 650,059,553 = $19.69 per share of earnings (future value)

PE Ratio of 14 x $19.69 = $275.67 per share

Plus, Net Worth $60 billion / 650,059,553 = $92.30 per share

Combined Earnings Power with Net Worth: $367.97 Intrinsic Value per share

If the Treasury Steals the warrants, $367.97 minus 79.9% = $73.96 per share.

https://www.freddiemac.com/investors/financials/pdf/10k_021325.pdf

What does that equate to once overhead is paid out for pps??

Wait what? Can you post some of that info? GTFO

Once returned to the companies, this $50 Billion gets them to almost 2.5% and should be a slam-dunk for being "re-capitalized" for release..... got to get this on Trump's radar for the wrong-doings perpetrated against the twins.....

Tomorrow. Expect similar results.

More like an "insane" boat

Cheers, thank you!

Friday before market opens

When does #Fannie report earnings?

Wow! Wow! Wow!

That's over $18 per share!

HOLD ON TO YOUR GOLDEN TICKETS!

Freddie net income $3.2 billion for the quarter and net worth $60 billion 🚀🚀🚀

It just cant get any better than this, no wonder they want to keep their filthy hands on them. FHFA and the mafioso clans are not profitable, have to steal from someone whom is.

Trump is now ORDERING all monies that were fraudulent and illegally paid out, TO BE RETURNED!

We are in the EXACT SANE BOAT.

It’s all over X

Freddie Mac 4Q Profit Rises; Home Buying, Refinancings Increase

Published: Feb. 13, 2025 at 8:46 a.m. ET - By Mark R. Long

https://www.marketwatch.com/story/freddie-mac-4q-profit-rises-home-buying-refinancings-increase-6f705b7d?mod=dj-newswires



Federal Home Loan Mortgage's fourth-quarter revenue and profit rose, boosted by higher interest and non-interest income.

The government-backed housing-finance company known as Freddie Mac reported fourth-quarter net income of $3.2 billion, up from $2.9 billion a year earlier. On a per-share basis, Freddie Mac swung to a net profit of a penny from a loss of 5 cents. Revenue rose 17.8% to $6.3 billion, with net interest income rising 5.9% to $5.1 billion.

The Maclean, Va., company said the gains were partially offset by a $100 million provision for credit losses compared with a $500 million benefit for these losses in the year-earlier quarter.

Freddie Mac said new business activity rose to $100 billion from $73 billion a year before as volumes of home purchases and refinancings rose. The serious-delinquency rate at the quarter's end rose to 0.59% from 0.54% as of Sept. 30.

This was the first earnings report of the second Trump administration. Scott Turner, the new head of the Department of Housing and Urban Development, earlier this month told The Wall Street Journal that HUD would work with the Treasury Department and Congress on privatizing Freddie and Fanny Mae. This effort to release the companies from government control also would involve the Federal Housing Finance Agency, which oversees Fannie and Freddie.

Shares of Freddie Mac edged 0.5% higher to $6.38 in premarket trading. The shares have nearly quadrupled since Trump's election.

Hedge fund managers such as Bill Ackman have built big stakes in Fannie and Freddie, betting the firms would be privatized.

Write to Mark R. Long at mark.long@wsj.com

Blow out earnings.

why is this stolen $50+ Billion FACT as much of a non-event as the 11,000+ Obama documents???

Freddie Mac Reports Strong Financial Performance for Q4 and Full-Year 2024

Feb 13, 202505:05 PST - FMCC+1.28%



https://www.tradingview.com/news/tradingview:46f38cb95123b:0-freddie-mac-reports-strong-financial-performance-for-q4-and-full-year-2024/

Freddie Mac, a leading player in the U.S. housing finance market, has released its latest SEC 8-K filing, detailing its financial performance for the fourth quarter and full-year 2024. The report highlights significant growth in net income, revenue, and other key financial metrics, reflecting the company's robust operational performance and strategic initiatives.

Financial Highlights

Freddie Mac reported a net income of $3.2 billion for the fourth quarter of 2024, marking an 11% increase year-over-year. For the full year, net income reached $11.9 billion, up 13% from 2023. The company's net revenues for Q4 2024 were $6.3 billion, an 18% increase from the same period last year, driven by higher net interest income and non-interest income.

Net interest income for Q4 2024 was $5.1 billion, up 6% year-over-year, primarily due to continued mortgage portfolio growth and lower funding costs. Non-interest income surged to $1.3 billion, compared to $0.6 billion in Q4 2023, mainly due to increased net investment gains.

For the full year, net revenues were $23.9 billion, a 13% increase from 2023. Net interest income for the year was $19.7 billion, up 6%, while non-interest income rose by 55% to $4.2 billion.

Business and Operational Highlights

Freddie Mac financed 1.0 million mortgages in 2024, with 53% of eligible loans being affordable to low- to moderate-income families. First-time homebuyers accounted for 52% of new single-family home purchase loans. The company also financed 553,000 rental units, with 93% of eligible units affordable to low- to moderate-income families.

In Q4 2024, Freddie Mac provided $130 billion in market liquidity and financed 539,000 homes and rental units. The company's total mortgage portfolio stood at $3.6 trillion as of December 31, 2024.

Strategic Initiatives and Corporate Developments

Freddie Mac's CEO, Diana W. Reid, highlighted the company's efforts in delivering $411 billion of liquidity into the U.S. housing finance system in 2024, helping 1.6 million families buy, refinance, or rent a home. The company also focused on financial education, credit building tools, and programs designed to encourage sustainable, affordable homeownership and rental opportunities.

The company completed approximately 20,000 loan workouts and increased its credit enhancement coverage to 62% of the mortgage portfolio. New business activity for the year was $346 billion, up 15% year-over-year.

Management's Perspective

Diana W. Reid, CEO of Freddie Mac, stated, "Today Freddie Mac reported strong 2024 earnings of $11.9 billion and a net worth of $60 billion. We delivered $411 billion of liquidity into the U.S. housing finance system, helping 1.6 million families buy, refinance or rent a home in 2024. We also prepared tens of thousands of borrowers and renters for future success through financial education, credit building tools, and programs designed to encourage sustainable, affordable homeownership and rental opportunities."

Future Outlook

Freddie Mac's forward-looking statements indicate a focus on maintaining liquidity and capital management, with an emphasis on supporting the housing market through various economic cycles. The company aims to continue its efforts in providing affordable housing solutions and enhancing its credit risk transfer (CRT) transactions.

SEC Filing: FEDERAL HOME LOAN MORTGAGE CORP [ FMCC ] - 8-K - Feb. 13, 2025

Non-interest income was $4.2 billion for full-year 2024, up 55% year-over-year, primarily driven by an increase in net investment gains.

early GSE premkt trading ...

FNMA $7.00 X $7.01 _ Last 2,500 @ $7.0086 _ 11,270 volume

FMCC $6.36 X $6.49 _ Last 1,050 @ $6.35 _ 2,070 volume

Boom!