New home sales plummet 14.5% in March

New home sales plummet 14.5% in March

Spring buying season off with a whimper

HUD’s Donovan: This is the worst rental crisis in this nation, ever

Says administration is very pleased with Johnson-Crapo

WFC can't keep alleged bogus foreclosure manual out of court

U.S. judge allows discovery on Tirelli's smoking gun
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