Skip to main content

Fannie Mae Generates $4.6B in Q2 Net Income

Phil Hall
Aug 06, 2015
Fannie Mae Headquarters

Fannie Mae reported net income of $4.6 billion for the second quarter and comprehensive income of $4.4 billion, a substantial increase from the $1.9 billion in net income and $1.8 billion of comprehensive income during the first quarter. The government-sponsored enterprise also reported a positive net worth of $6.2 billion as of June 30, which resulted in a dividend obligation to Treasury of $4.4 billion.

“We reported another strong quarter of financial performance with solid revenues and an impressive book of business that only continues to improve,” said Timothy J. Mayopoulos, Fannie Mae’s president and CEO. “We have reduced the risk of our business and have made great strides in transferring credit risk to private capital to better protect taxpayers.”

However, Fannie Mae’s quarterly report added that while it expected to generate annual profits “for the foreseeable future,” it warned that this year’s earnings and those for future years “will be substantially lower … due primarily to the company’s expectation of substantially lower income from resolution agreements, continued declines in net interest income from its retained mortgage portfolio assets, and lower credit-related income or a shift to credit-related expense.”

Fannie Mae’s profitable second quarter mirrored news from earlier this week that Freddie Mac enjoyed a $4.2 billion net income for the second quarter, up from $524 million for the first quarter of 2015, as well as comprehensive income of $3.9 billion for the second quarter, up sharply from $746 million for the first quarter.

Aug 06, 2015
OCC Fines Sterling Bank & Trust $6M Over Mortgage Fraud

Bank, parent company remain under criminal investigation by Justice Department and SEC.

Regulation and Compliance
Sep 27, 2022
Federal Court Shutters Sham Mortgage Relief Operation

FTC, California agency accuse 2 business owners of scam that cost consumers millions of dollars.

Regulation and Compliance
Sep 22, 2022
CFPB Seeks Input On Creating New Mortgage Products

Agency seeks information on refinances, mortgage products to promote competition and support household financial stability.

Regulation and Compliance
Sep 22, 2022
The Fed Raises Interest Rate 0.75% For The 3rd Time

Chairman said housing market may have to go through "a correction" to return to balance.

Regulation and Compliance
Sep 21, 2022
Fed Committee Gathers To Renew Inflation Fight

FOMC expected to announced 0.75% rate hike after 2-day meeting ends Wednesday.

Regulation and Compliance
Sep 20, 2022
MISMO Releases New Reference Model For Public Comment 

Version 3.6 of the MISMO Reference Model includes new data points and structures.

Regulation and Compliance
Sep 19, 2022