Real Estate, Quarterly Earnings | featured news

Fannie earns $17.2B in 2012, biggest annual gain

Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.

 

Citigroup profit drops after it writes down brokerage unit

Citigroup Inc said quarterly profit plunged on a $4.7 billion write-down of its stake in a brokerage operated by Morgan Stanley, but mortgage lending increased and capital markets results rebounded.

 

J.P. Morgan, Wells Fargo: Housing on Mend

Housing Market

Two of the nation's largest banks released third-quarter results that suggest the U.S. housing market, a key factor in the nation's economic performance, is bouncing back as mortgage rates hit record lows and home refinancings surge.

 

DealBook: JPMorgan Quarterly Profit Rises 34%

Finally moving beyond a trading debacle that has stained his once-stellar reputation, Jamie Dimon, JPMorgan Chase’s chief executive, on Friday trumpeted a strong quarter of earnings stemming from a surge in mortgage lending.

Senh: Further proof that the housing market is starting to rebound.

 

DealBook: Mortgage Refinancing Boom Is Expected to Benefit Banks

As the government expands its support of the housing market, analysts expect that mortgage profits at banks will rise in third-quarter earnings reports and will continue well into next year.

 

Fannie and Freddie Reports Offer Positive Sign for Housing

Housing Market

Fannie Mae and Freddie Mac, the two mortgage-finance giants, this week reported some of their best quarterly results since the real estate collapse. On Wednesday, Fannie Mae posted second-quarter net income of $5.1 billion. That is up from $2.7 billion in the first quarter of this year and an improvement from a net loss of $2.9 billion in the second quarter of last year. Fannie requested no additional money from the Treasury and said it would pay a $2.9 billion dividend to taxpayers.

 

New-home sales dip after 4 straight monthly gains

Sales of new homes dipped in January but the final quarter of 2011 was stronger than first estimated.

 

Foreclosure sales 'astronomically high' in Q1

Foreclosure sales 'astronomically high' in Q1

Sales of homes in some stage of foreclosure declined in the first three months of the year, but they still accounted for 28 percent of all home sales.

 

KB Home 1Q loss widens on fewer home deliveries

KB Home said Tuesday that its fiscal first-quarter loss widened, as the homebuilder delivered fewer homes and net orders declined.

 

Bank of America posts $1.2B loss

Bank of America reported Friday that it had a $1.2 billion loss in the fourth quarter of last year, including a previously announced charge of $2 billion reflecting a decline in the value of its home loans and insurance business.

 

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