Fannie Mae Generated Nearly $4B in Q3 Income

Phil Hall

Nov 02, 2018

Fannie Mae reported $3.97 billion in comprehensive income during the third quarter, down from $4.4 billion in the second quarter but higher than the $3.04 billion from the third quarter of 2017.

The government-sponsored enterprise (GSE) also reported $4 billion in net income for the third quarter, down from $4.4 billion in the previous quarter but higher than the $3 billion reported one year earlier. Fannie Mae added that it will pay a $4 billion dividend to the Department of the Treasury by Dec. 31.

“Fannie Mae’s strong third quarter results reflect the company’s positive momentum, the strength of our business, and our strategic direction,” said Hugh Frater, Interim CEO at Fannie Mae. “We are focused on serving our customers, helping them navigate market headwinds, and enabling a mortgage process that is better, faster, cheaper and safer. That means we have a responsibility to innovate, while maintaining our strong commitment to safety, soundness, and stewardship on behalf of taxpayers.”

Fannie Mae’s third quarter report follows news from earlier this week that Freddie Mac generated comprehensive income of $2.6 billion during the third quarter, up from $2.4 billion in the second quarter but down from the $4.7 billion reported in the third quarter of 2017. Freddie Mac also reported net income of $2.7 billion for the third quarter, up from $2.5 billion in the previous quarter but down from $4.6 billion one year earlier. Freddie Mac will make $2.6 billion dividend requirement to the Treasury in December.

Link copied

Published

Nov 02, 2018

Analysis and Data

Private Sector Adds 103,000 Jobs In November, Pay Growth at 5.6% Year-Over-Year

Economist predicts moderate hiring and wage growth for 2024 as recovery momentum slows.

The private sector saw the addition of 103,000 jobs in November, according to the ADP National Employment Report Additionally, there was a notable year-over-year pay growth of 5.6%, drawing insights from payroll data of over 25 million U.S. employees. The numbers for Octobe...

Analysis and Data

Mortgage Applications Increase 2.8%

Refinancing activity gains momentum from lowest mortgage rates since August 2023.

Mortgage applications saw a notable increase of 2.8% in the week ending Dec. 1, 2023, according to data released by the Mortgage Bankers Association (MBA). This uptick came following adjustments made to account for the Thanksgiving holiday and is the fifth straight week of i...