Skip to main content

Fannie Mae Reports $8.1 Billion in Pre-Tax Income in Q1

NationalMortgageProfessional.com
May 13, 2013

Fannie Mae CEO Tim Mayopoulos announced that Fannie Mae’s pre-tax income for the first quarter of 2013 was the largest quarterly pre-tax income in the company’s history at the Housing Policy Council’s 10th Annual meeting in Washington, D.C. The company reported pre-tax income of $8.1 billion for the first quarter of 2013, compared with pre-tax income of $2.7 billion in the first quarter of 2012. “The Fannie Mae report is another indication of the continued increase in the quality of mortgages being originated by the industry today and is a positive sign of the recovery of the mortgage and housing market. It is good news that both Freddie Mac and Fannie Mae are returning money to the taxpayers,” said Housing Policy Council President John Dalton. “It demonstrates that lenders are making good loans with strong underwriting. We hope this new market strength allows a full discussion and progress toward a reformed secondary market structure. Fannie, Freddie and FHA played an important role in stabilizing the market during the recent crisis, but we now need to move forward on a new secondary market system that includes a larger role for private capital, with a more limited and defined government role.” 
Published
May 13, 2013
Rocket Pro Announces Major Initiatives

Company brings Rocket Tech, the Rocket Network and Rocket Marketing to mortgage brokers across the country

Industry News
Oct 19, 2021
FormFree Taps Amazon Web Services For Consumer Financial Identity Solutions

FormFree will use Amazon's blockchain technology to manage its latest consumer Financial DNA solution and its newly introduced FormFree Exchange.

Tech
Oct 19, 2021
Synergy One Lending Increases Its Capital By $50M

San Diego-based Synergy One Lending Inc. completed a $50 million corporate note financing with a consortium of institutional investors.

Industry News
Oct 19, 2021
TransUnion Sees Untapped Growth Opportunity For The Mortgage Industry

A study conducted by TransUnion, which explores the creditworthiness of low-to-moderate income consumers, revealed that the segment represents a $300 billion growth opportunity for the mortgage industry.

Analysis and Data
Oct 19, 2021
Zillow Stock Falls After It Halts Buying Houses To Flip

Zillow’s stock fell nearly 10% Monday after the company announced its Zillow Offers division would stop buying homes.

Industry News
Oct 19, 2021
MBA Swears In New Officers For 2021-22

Kristy Fercho, executive vice president and head of home lending at Wells Fargo, is the new chairman.

Industry News
Oct 18, 2021