Fannie Mae Reports $2.7B Net Income
Fannie Mae is out of the red.
Fannie said Wednesday that it earned net income attributable to common stockholders of $2.7 billion in the January-March quarter. Instead of seeking additional aid from taxpayers, the company will pay a dividend of $2.8 billion to the Treasury Department.
That compares with the same quarter one year ago when Fannie reported a net loss of $6.5 billion.
The company was able to report the gain mostly because it had lower expenses for its losses. Two key reasons for that: home price declines have slowed and fewer mortgages are in serious delinquency.