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Mortgage-finance company Fannie Mae reports a 27% rise in second-quarter profits, reaching $4.64 billion, driven in part by the increase in long-term interest rates. However, Fannie Mae reveals that its efforts to expand mortgage access to borrowers with lower credit scores and smaller down payments have had a slow start. The company's performance reflects the impact of hedging risks and derivatives in its portfolio.
Wednesday, 5 August, 2015