and Thank Priscilla, morning. good you,
billion in we quarter, income mentioned, million Priscilla $X As the in reported from net second the third down quarter. $XXX
at income, losses billion, was $X.X but driven steady remained Our for third million credit fee benefit guarantee by our quarter down quarter. this revenues strong $XXX
multifamily, million for million prior In credit $XXX from losses, $XXX up we the recorded a quarter. provision
third provision property and down were by largely The in the quarter driven forecasted that was ARM period decreases during values. written loans modest
We see allowance projections it the for value and some property to will take uncertainty a have in assume reflected recovery. longer
also transactions suspected allowance multifamily ongoing the uncertainty relating fraud. to with reflects lending investigation Our of
$XX quarter, In single from this family, we is last for down million losses credit which a recorded quarter. benefit $XXX million
of see Also, as levels XXXX. Priscilla Hurricane home increases continue which mentioned of reserves, in to impact in our prices are forecasted allowance. The is hurricanes. seen considered the our in driver We change to the in primary Helene down
the billion up Declining was interest drove fair we value of an in our and X% mainly quarter. this attributable acquisitions. increase $XXX mortgage activity million last loans of gains value basis our decline In this million average volume primarily XX seasonal Purchase versus at points. $XX.X up rates purchase single-family quarter third compared made for business, to in of smaller rates to This fair prior loans in quarter $XX quarter, quarter. a acquired gains XX%
loan-to-value acquisitions and single-family of score the The XX% weighted credit with profile credit of strong a average of ratio remained average XXX. our weighted
basis remained from June. of rate low Our increasing at near points points the levels, of basis SDQ, XX to XX end or end single-family delinquency, the at serious September historically
in Helene that rate increase the SDQ will and Milton anticipate an of the impact in short term. We result in our single-family Hurricanes
lead our single-family SDQ the the credit recent In increase addition, of our performance, loans which of in our expectation given to rate. compared we slower may growth, an could to economic in decline single-family book expect performance
transactions. premiums $XX.X executed time three on of in during the in Turning programs, single-family transfer We Avenue credit principal and million transferring our approximately Transfer, transactions. quarter the transactions a Connecticut of the Risk credit $XXX or quarter billion third risk or on outstanding transfer. the Insurance portion We at single-family our Credit risk unpaid our to between balance the CAS, Securities, risk CIRT, credit of paid
XXXX our to multifamily loans to first In acquisitions we bringing in $XX.X September XXXX. billion months billion quarter, compared multifamily our through the $XX.X billion XX business, X the acquired in $XX.X of during
book of overall coverage a multifamily average debt weighted service ratio Xx. ratio weighted XX% original average a of loan-to-value had and Our
the the last quarter Property and quarter, the the declined third XXXX. the seen the from multifamily property property In third from values recent values decline. Index, to the quarter XXXX in continued most Commercial of to multifamily in levels to back to are XX.X% Real peak second of now data Assets XXXX According MSCI Price
$XXX end compared to at portfolio XX This this points year multifamily due in delinquent that basis loans Our a with the the seriously to of September end of to SDQ points basis ARM became during rate UPB the June. increased XX third was million approximately quarter. of at increase
multifamily CIRT In the approximately through risk programs, of portion transferring and balance billion multifamily time transactions. credit $XX.X on multifamily of two risk a the of transfer, our CAS transactions at the we executed credit principal unpaid
touch economic outlook. on current our Lastly, I'll
As subdued. home sales remain Priscilla shared, existing
slowing growth XXXX, and economics million total growth XXXX. team in in full year XXXX in Our and up home in research of project the strategic We units expects X.X% to X.X% picking for XXXX. of price million home X.X to X.X sales
XX% trillion from making this XXXX originations of to year. to mortgage trillion single-family XXXX originations with $X.X approximately in single-family in $X.X grow expect mortgage up We purchases
market billion XXXX a billion. roughly multifamily expect continue billion between and origination range with volumes $XXX We to $XXX be $XXX to
down While $XXX XXXX, volumes in is $XXX XXXX. our for from not in far estimated billion billion from this significantly
consumer of X% because X.X% elevated new We in and expect range in debt. completions averages rent XXXX levels dealing the growth of to to remain many renters below high historical construction with
expectations with are many today's you financial our Our fanniemae.com, into and filing Thank insights assumptions on current differ our you'll visit find where for our I that invite provides supplement business. us you materially actual results joining based could today. from a expectations. additional to
