Revealed: BlackRock owns considerable stock in housing’s biggest players

Who wins the Super Bowl…of real estate?

Redfin deflates Patriots' homeowners

CFPB wants more mortgages in "underserved" areas

And here's how they will get it done
W S
Investments / The Ticker

Fannie Mae net income soars to $8.7 billion in 3Q

Fed Money
/ Print / Reprints /
| Share More
/ Text Size+

Fannie Mae posted a third quarter net income of $8.7 billion, compared with a net income of $1.8 billion for the third quarter of 2012, making it the company’s seventh consecutive quarterly profit, the company announced in a press release.

In addition, Fannie Mae reported a comprehensive income of $8.6 billion for the third quarter of 2013, compared to $2.6 billion for the same period a year prior.

Fannie Mae’s strong third quarter results were driven primarily by continued stable revenues and credit- related income. Credit-related income was positively affected by an increase in home prices in the quarter, which resulted in a reduction in the company’s loss reserves; the recognition of compensatory fees received in connection with the Bank of America compensatory fee agreement; and a decline in the number of delinquent loans in the company’s single-family guaranty book of business. 

Recent Articles by HousingWire Staff

Comments powered by Disqus