For the third quarter, Fannie Mae earned $1.8 billion in net income, compared with its net loss of $5.1 billion a year prior.

The government- sponsored enterprise expects to report annual profit for the first time since 2006.

For the first nine months, the government-sponsored enterprise reported a net income of $9.7 billion.

As a result of consistently strong financial results over the past three quarters, Fannie Mae expects to show annual net income for the first time in six years. 

The GSE has a comprehensive income of $2.6 billion this quarter and as a result, is able to pay back its 3Q dividend of $2.9 billion to the Department of Treasury without any draw under its agreement.

High-quality new single-family book of business accounts for 63% of its single-family guaranty book of business. The new book of business is profitable, built on strong lending standards and is continuing to grow.

cmlynski@housingwire.com

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