Fannie Mae Posts $1.8B Q3 Profit

Posted by Orb Staff on November 08, 2012 No Comments
Categories : Residential Mortgage

12718_fannie_mae_logo Fannie Mae Posts $1.8B Q3 Profit Fannie Mae has reported net income of $1.8 billion in the third quarter, compared with a net loss of $5.1 billion in the third quarter of 2011. For the first nine months of 2012, Fannie Mae reported $9.7 billion in net income.

Fannie Mae also reported comprehensive income of $2.6 billion in the third quarter. As a result, the government-sponsored enterprise says that it is able to pay its third-quarter dividend of $2.9 billion to the U.S. Department of the Treasury without any draw under its senior preferred stock purchase agreement.

‘We are seeing signs of sustained improvement in housing, and our actions to support the housing recovery have generated strong financial results in 2012,’ says Timothy J. Mayopoulos, president and CEO. ‘Fannie Mae's priorities are well aligned with the public interest. Our financial condition has improved markedly. We have paid the Treasury $8.7 billion in 2012 and our expected ability to pay taxpayers is growing.’

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