Fannie Mae publishes 29th quarter of profitability in the GSE -SHAKEUP on the 29th time in a row

During the government sponsored by the government (GSE) on Wednesday morning, FHFA The director Bill Pulte shared the opening speech about the priorities of Fannie Mae.

“Our current focus at Fannie Mae is on operational efficiency and ensuring that Fannie Mae is a first -class operator,” said Pulte. “While assets are significant, remain [a] Great opportunity to trim fat, turn the business over, to achieve more income and to ensure this and at the same time ensure that you ensure security and solidity. ”

He continued: “A profitable Fannie Mae, one with a strong balance and a strong capital that focuses on the joy of customers, means a safe and solid US mortgage market.”

Fannies continued profits come when the mortgage industry itself has problems. The Mortgage Bankers Association The average IMB reported a net loss of $ 40 for each loan that they come in the fourth quarter. The conditions have not improved dramatically in the first quarter.

The GSE achieved a liquidity of 76 billion US dollars in the first quarter of 2025, which enabled the financing of around 287,000 home purchases, refinancing and rental units.

The President and CEO of Fannie Mae, Priscilla Almondovar, shared a broad update of the economic environment and commented: “High property prices are still the primary sticky point for buyers.”

She continued: “The 30-year-old fixed mortgage was 6.8% in the quarter and rose slightly by 6.6% in the first quarter in the first quarter.

Fannie Maes CFO, Chryssa Halley, gave a more detailed insight into the company's business. “Our guaranteed book was $ 4.1 trillion at the end of the quarter. This included $ 76 billion in new business acquisitions. In this quarter we acquired loans of $ 64 billion, an increase of $ 3% compared to the previous year.”

Halley added that the acquisitions were continued to mute due to a difficult mortgage environment, lack of supply and affordability restrictions on apartments and affordability of living space.

Single-family and multi-family results

During the first quarter of 2025, Fannie acquired around 144,000 shopping loans, about half of whom were for first-time buyers and around 50,000 single-family refinance loans who shared Almodovar during the profit.

The conventional acquisition volume of single-family houses was $ 64.3 billion in the first quarter of 2025, compared to $ 62.3 billion in the first quarter of 2024. USD went back.

The refinancing acquisition volume was $ 14.2 billion in the first quarter of 2025, an increase of 9.3 billion US dollars in the first quarter of 2024.

The average business book of single-family houses fell in the first quarter of 2024 by $ 21.3 billion to $ 3.6 trillion in the first quarter of 2025. Average lawsuit at 753 remained.

The new business volume of several apartment buildings was 11.8 billion US dollars in the first quarter of 2025, compared to USD 10.1 billion in the first quarter of 2024.

“Our multi-family book at the end of the quarter had a weighted average original loan-to-value rate of 63% and a weighted average insurance rate of 2.0 times,” added Halley.

How does the rest of 2025 form for Fannie Mae?

Halley solved Fannies predictions for the rest of 2025 more light.

“Our economists currently expect that the mortgage interest rates will be an average of 6.5% for 2025. The total turnover of home -made homes is expected to improve slightly to 4.9 million units, compared to the 4.7 million units that have been observed for the entire year of 2024,” she said. “You are currently projecting a year a year, the growth of the home price in 2025 4.1%, measured by the Fannie Mae Home Price Index, compared to 5.3% in 2024.”

The economists from Fannie Mae also predict a single-family mortgage report of around $ 2.0 trillion in 2025 compared to an estimated $ 1.7 trillion in 2024, whereby the purchases are made up for 73% of the single-family mortgage origin this year, Halley told investors.

The GSE expects that the rental growth of apartment buildings will be in the range of 2% to 2.5% in 2025, which has unchanged compared to the predictions announced in its last winning call.

“Regardless of this, we believe that the vacancy rates could increase to 6.25% this year, and we predict the apartment on the apartment between $ 325 billion and $ 365 billion in 2025, compared to $ 310 billion in 2024,” said Halley.