Quarterly Performance Report of the Housing GSEs - Third Quarter 2014

​​The Enterprises

(Freddie Mac and Fannie Mae)

• Third quarter net income of $6.0 billion compared to $5.0 billion in the second quarter of 2014
• Proceeds from private-label mortgage-related securities (PLS) settlements totaled $1.7 billion in the third quarter
• Loan loss reserves decreased $2.5 billion during the quarter, mostly due to continued improvement in national home prices
• Enterprise MBS issuance share increased in the third quarter of 2014

The Federal Home Loan Bank Syste​m

• ​Aggregate third quarter 2014 income of $638 million compared to $527 million in the second quarter of 2014 and $549 million in the third quarter of 2013
• Aggregate advances increased by 1.5 percent over the quarter to $544.6 billion
• Advances remained at 62 percent of assets
• Aggregate retained earnings increased to $13.0 billion