Fannie Mae Reports $12.3B in 2016 Net Income
February 21, 2017
Fannie Mae closed 2016 with annual net income of $12.3 billion and annual comprehensive income of $11.7 billion plus a positive net worth of $6.1 billion, according to a new filing by the government-sponsored enterprise. For the fourth quarter of 2016, Fannie Mae reported net income of $5 billion and comprehensive income of $4.9 billion.
Fannie Mae also reported paying $9.6 billion in dividends to the Department of the Treasury last year, and it expects to pay Treasury $5.5 billion in dividends next month.
Within its business segments, Fannie Mae’s single-family net income was $4.5 billion in the fourth quarter, up from $2.7 billion in the third quarter, and $10.2 billion for 2016, up from $8.6 billion in 2015. On the multifamily side, net income was $548 million in the fourth quarter, up from $539 million in the third quarter, but multifamily net income for 2016 was $2.1 billion, down from $2.3 billion in 2015. Fannie Mae explained the decline as being “driven primarily by lower fee and other income, gains from partnership investments and credit-related income, partially offset by higher net interest income and lower fair value losses.”
“Our strong 2016 results reflect a multi-year drive to improve Fannie Mae’s business model, strengthen the housing finance system, and deliver innovation and certainty to customers,” said Timothy J. Mayopoulos, president and CEO at Fannie Mae.
FMJ Job Listings
- Personal Banker Associate I - Fifth Third Bank - Roswell, GA
- Preferred Relationship Manager - Downtown Chicago - Fifth Third Bank - NAPERVILLE, IL
- Retail Personal Banker Associate II - Fifth Third Bank - NASHVILLE, TN
- Retail Personal Banker Associate II - Commerce Place - Fifth Third Bank - LA GRANGE PARK, IN
- Retail Personal Banker I - Fifth Third Bank - Michigan City, IN
- Financial Center Manager Associate - Fifth Third Bank - CLEARWATER, FL