Fannie Mae's first-quarter profits were enough for it to rebuild its minimum capital buffer and pay the Treasury Department dividend after being forced to take a draw during the previous fiscal period.
If Freddie Mac's credit-risk transfer activities continue to grow, mortgage lenders could eventually see a reduction in the guarantee fees they pay to the government-sponsored enterprise, according to CEO Donald Layton.
Because of the Durbin amendment, the once-prized asset has become an albatross. Spinning it off will remove a distraction and let management refocus on business banking.
The U.S. subsidiary of the Spanish banking giant BBVA said Friday that direct consumer loans increased 40% in the first quarter and that its digital strategy is bearing fruit.
Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs.
