The company is still the largest issuer of single-family mortgage-related securities in the secondary market.

Fannie Mae reported net income of $2.4 billion and comprehensive income of $2.4 billion for the first quarter, down from $3.2 billion in both categories during the fourth quarter of 2018. The company reported a net worth of $5.4 billion as of March 31 and will pay a $2.4 billion dividend to the Treasury by June 30. Fannie Mae added that it provided $85.1 billion in liquidity to the single-family market in the first quarter, making it the largest issuer of single-family mortgage-related securities in the secondary market. The GSE also provided $16.9 billion in multifamily financing in the first quarter. Freddie Mac reported net income of $1.4 billion for and comprehensive income of $1.7 billion in the first quarter, compared to the fourth quarter’s net income of $1.1 billion comprehensive income of $1.5 billion. The GSE is expected to make a $1.7 billion dividend payment to the Treasury in June. Freddie Mac provided approximately $86 billion in liquidity to the market in the first quarter that funded more than 300,000 single-family homes–of which approximately 192,000 of which were home purchase loans–and roughly 148,000 multifamily rental units. 

Source: National Mortgage Professional