Fannie Mae posted a whopping net income profit of $8.1 billion for the first quarter of 2013, but the surge in profit comes with a price.
The firm's sudden increase in income is sucking profit away from mortgage lenders, according to an article in Bloomberg.
Since Fannie Mae is turning into more of a middleman between homeowners and the bond market, which is a role typically reserved for originators or the larger banks that buy their loans, the article explains.
"We don’t play this big of a role because we want to," Chief Executive Officer Timothy J. Mayopoulos said last month in a Bloomberg Television interview. "It’s really because we need to in order to provide liquidity and funding to the market."