3Q Results: GSEs Set Aside $4.3B to Cover Declining Home Values

Inside Mortgage Finance, Nov. 8, 2022–Dennis Hollier, Paul Muolo
Fannie Mae and Freddie Mac reported a reduction in revenue and net income for the third quarter — a reflection of a tumultuous mortgage market — and waved a warning flag by booking sizeable credit loss builds of $2.5 billion and $1.8 billion, respectively.