April, 2012

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LOCAL EDITION ANALYTICS MetLife Records Record-Breaking Commercial Developments THE FINANCIAL INSTITUTION RECENTLY RELEASED DATA SHOWING SIGNIFICANT GAINS IN THE COMMERCIAL SECTOR. NEW YORK // MetLife origi- nated $11 billion in commercial mortgages in 2011, making last year the largest on record for the life insurer. The company said in a recent statement that it achieved the re- sults by signing off on a number of real estate transactions with mortgages roughly equal to $200 million and above. It said that these include $350 million on a loan for commercial real estate in Manhattan; $255 mil- lion on a mortgage for an office building in Chicago; and super-re- gional malls based in Denver and Tampa, each worth $360 million and $325 million, respectively. 66 | THE M REPORT "Capitalizing on the strength of the MetLife lending platform, we were able to originate a significant number of larger loans on trophy office buildings and dominant regional malls in the U.S.," Mark Wilsmann, managing director and head of MetLife's mortgage lending group, said in a statement. Robert Merck, senior managing director and global head of real estate investments for the company, chalked up the results in a statement to "key guiding principles, which enabled us to strategically navigate through the economic downturn during the past few years and remain an active lender in the market." The record-breaking loans from last year come on the heels of a pullout by MetLife from the forward mortgage origination business, which the company announced last fall and completed in January. MetLife more recently axed 804 originators in Irving, Texas, where it filed a notice of layoff with state authorities in February. Freddie Taps Treasury for $146M DESPITE RECORDING NET INCOME GAINS TO END 2011, THE GSE IS REQUESTING MORE FUNDING FROM THE GOVERNMENT. WASHINGTON, D.C. // Freddie Mac reported a gain in net in- come for the fourth quarter and less losses overall for the year 2011 compared with the previ- ous year, according to the GSE's fourth-quarter and year-2011 report released recently. Freddie Mac reported a net income of $619 million for the 2011 fourth quarter. During the third quarter, a net loss of $4.4 billion was reported for the third quarter, which ended September 30, 2011. Freddie Mac will still need to request $146 million from the U.S. Treasury for the company's fourth-quarter net worth deficit due to "senior preferred divi- dends paid of $1.7 billion," the report stated. For the 2011 third quarter, $6 billion was requested after the GSE reported its largest quarterly loss in more than a year. The report stated that the shift from a net loss for the third quar- ter to net income for the fourth quarter of 2011 is due to lower de- rivative losses as a result of fewer borrowers refinancing into lower, long-term interest rates. According to the report, Freddie Mac has requested $7.6 billion from the Treasury for the year 2011 and $13 billion in 2010. "We continue to take actions to protect the investment American taxpayers have made in Freddie Mac and build a stronger founda- tion for the future housing finance system," said Freddie Mac CEO Charles E. Haldeman Jr. in the report. "This included cutting about $180 million in expenses over the last two years and continuing to build a strong new book of busi- ness, which now accounts for about half of our single-family portfolio." Since the beginning of 2008, Freddie Mac has recorded a SECONDARY MARKET ANALYTICS SERVICING ORIGINATION

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