Skip to main content

Fannie Mae Reports $4B in Q3 Net Income

Phil Hall
Oct 31, 2019
Fannie Mae closed the third quarter of this year with $4 billion in both net income and comprehensive income

Fannie Mae closed the third quarter of this year with $4 billion in both net income and comprehensive income, according to the latest earnings report issued by the government-sponsored enterprise. During the second quarter, Fannie Mae generated $3.4 billion in both net income and comprehensive income.
Fannie Mae noted that it was the largest issuer of single-family mortgage-related securities in the secondary market during the first nine months of this year, and its market share of issuances was 39 percent for the third quarter. Roughly one in four single-family mortgages were financed through Fannie Mae, and more than 90 percent of the multifamily properties it financed in the third quarter were affordable to families earning at or below 120 percent of the area median income.
“Our strong quarterly results demonstrate the strength of Fannie Mae’s business and our ability to dynamically manage credit while serving the needs of our customers,” said Fannie Mae CEO Hugh R. Frater. “We are focused on preparing for an eventual exit from conservatorship and providing liquidity for housing for low- and moderate-income Americans. We will continue to work with our customers and partners to provide sustainable and stable sources of financing for affordable homes and apartments.”
The Department of the Treasury and the Federal Housing Finance Agency agreed to increase the amount of capital Fannie Mae is permitted to retain from $3 billion to $25 billion, effective with the third quarter dividend period; a similar agreement increases Freddie Mac’s retained capital level from $3 billion to $20 billion. As a result, neither entity will be required to pay a dividend on the senior preferred stock to Treasury again until its net worth amount exceeds their respective applicable capital reserve amounts.
Freddie Mac released its third quarter earnings report yesterday, with comprehensive income of $1.8 billion and net income of $1.7 billion.

Oct 31, 2019
Fannie Mae Introduces Spanish-Language Homebuyer Education Program

The new platform, HomeView en Español, aims to bridge language barriers hindering Hispanic-Americans from purchasing homes..

Sep 29, 2023
Layoffs At

After a rocky market debut, has laid off staff.

Sep 25, 2023
CFPB Issues Guidance On AI In Credit Underwriting

Creditors must provide specific and accurate reasons for credit denials, even with complex AI models.

Sep 19, 2023
Intercontinental Exchange Completes Black Knight Acquisition; Births Dark Matter Technologies Under Constellation Software

Rich Gagliano takes the helm at Dark Matter Technologies, poised to lead the future of Empower LOS with a 1,300-strong team, blending startup agility with decades of industry experience.

Sep 18, 2023
FHFA Invites Public Engagement On Modernized Credit Score Transition

Stakeholder forums and listening sessions planned to ensure seamless rollout; extended timeline for bi-merge credit report requirement in play.

Sep 11, 2023
Desperation Drives Difficulty in Closing Mortgages in California

Analysis reveals California among top 20 toughest states for mortgage closures.

Sep 11, 2023