Thank and everyone. morning, you, good Priscilla,
the quarter, to reported we in net mentioned, billion second income this compared decrease million quarter the $X.X roughly third Priscilla $XXX of year. in a As
quarter's net is $X.X This million Our income. interest remained fees. higher revenues than $XXX third income, net to quarter thanks billion. recorded interest last strong of $X.X at We guaranty strong billion
in home retained quarter $XXX offset a due to primarily and sell our loan of mortgage and million, driven a due by to nonperforming write-offs portfolio. forecasted reperforming loans our in saw We reserves benefit intention increases by of credit actual release prices. to partially in was a this portion This redesignations from single-family the
fair was by home credit double is the previous quarter to value $X.X price value This in the that the driven in fair primarily Increases increases. gains million $XXX around billion rates a drove compared gains, previous interest also benefit in quarter. nearly in
$XXX addition, recorded interest Mae quarter. In Fannie jury million shareholders and verdict prejudgment the a an preferred litigation for expense third we to award in related of a
We billion compared business a Turning loans quarter, second in single-family to quarter. flat acquired in the single-family highlights. is to $XX few the third which
decades. highest Given the single-family over climbed of to environment, share purchases we've for XX%, our interest that seen rate level the X acquisitions were the
origination overall Our XX% and book strong, XXX. loan-to-value weighted the score mark-to-market remains of with business average credit average of single-family of at ratio weighted
September to current economic near levels. basis including XX due standards XX to serious delinquency single-family low for low loan historically borrowers. underwriting points at rate effective Our remained workout stood distressed and conditions, and options thanks as unemployment And of our
may weakening credit of impact our In single-family serious delinquency we mortgages of quarter, third the transferred credit $XX transfer business, credit programs. a rate. projected, risk in to through single-family loans guaranty performance portion our risk which could the As of economy our the in single-family a increase an billion lead on
lower time downward interest in uncertain by $XX.X the to $XX trend multifamily. the acquired billion is with of higher our XXXX's year. third This acquisitions environment driven market at We billion brings Now billion compared overall rates. quarter, this last year-to-date and multifamily $XX in which consistent to activity, market loans
a property acquired ratio of ratio we average average had weighted the year-to-date original XX%. have declining loan-to-value loans a Despite debt X.Xx. in values loans also service the These of multifamily weighted multifamily market, coverage
of the The service weighted multifamily debt remains credit original of with average book XX% X.Xx. our overall a loan-to-value ratio coverage of profile strong weighted ratio average and
ability monitor to impacts typically have continue reduce refinance the interest on the their Rising We book. our to due. rates of multifamily a payment to loans when prior of multifamily borrowers rates balloon maturity may rising they
their the of also book XXXX. result payments Rising Roughly mature to adjustable debt service ratios. higher coverage rate for through mortgages, X.X% borrowers of in interest will end expected may our which with monthly multifamily is rates lower
September, rate the our of made multifamily about book. mortgages of up XX% of As adjustable end
those mortgages. are adjustable previous calls, housing discussed particularly our seniors stressed In that we've rate loans, multifamily
of compared by XX, XX housing. basis serious Our delinquency June rate as XX driven largely points multifamily to of XX seniors increased points to September as basis
We are when mitigation appropriate. actions actively pursuing loss
We appropriate or their workouts, multifamily are complete achieved, our loans the decrease delinquency expect we may rate an be delinquency; may that cannot resolve upon. as serious workout foreclosed if loan which
The recession we mild out, of on we Before current touch close Priscilla the the interest our to But felt. expected weight believe year. I'll growth economic be mentioned of outlook. next strong in dramatic economic rates we have yet the likelihood reduced full has increase the has
currently we affordability. supply stress to in housing coupled home prices which expect XXXX, dynamic Mortgage an uneven continue to with on and put fuel in X.X% will average demand rates, elevated
for X.X% the of in the the first project estimated national home price of year. months strong growth Given X.X% price of the home year, we full growth X
our expectations differ current you'll our are with business. that financial actual many you provides based find today's on you where our supplement results from pages, Thank expectations. into us invite and I for visit today. filing to could Our a insights assumptions additional our web joining materially
