[ad_1]
The company’s overall single-family conventional acquisition volume was $1.4 trillion in 2021. Single-family home purchase acquisitions hit a record high of $451.3 billion, while refinance acquisition volume dropped to $903.7 billion, down from $947.8 billion in 2020 – the highest on record. As of December 31, its average single-family conventional guaranty book increased by 9.5%.
Meanwhile, its 2021 multifamily business volume sat at $69.5 billion to meet the $70 billion volume cap established by the Federal Housing Finance Agency (FHFA) for 2021. Fannie’s multifamily guaranty book of business was up by 7% to $413.1 billion.
Read more: Fannie Mae reveals what’s happening with housing sentiment
“Fannie Mae continued to be a crucial source of mortgage financing in 2021,” said Fannie Mae head Hugh Frater. “Our performance was strong, and many parts of the housing economy performed well in 2021, but not for everyone. Our housing mission to advance equitable and sustainable access to homeownership and quality, affordable rental housing has never been more important. Much work remains to ensure that America’s housing finance system serves all people fairly and is safe, sound, and properly capitalized.”
Freddie Mac’s annual results
Meanwhile, Freddie Mac posted a net income of $12.1 billion in 2021, up by 65% year over year. The firm cited higher net revenues and a credit reserve release in single-family. Its comprehensive income surged by 54% year over year to $11.6 billion.
[ad_2]
Source link
