Fannie Mae Profits Improve in First Quarter

Fannie Mae today said that it earned net income of $1.9 billion in the first quarter. Like Freddie Mac’s report on Tuesday, Fannie’s profits rebounded slightly from a weak final quarter of 2014, but it was still well below the $5.3 billion earned in the first quarter of 2014.

Fannie’s income rebounded mainly due to lower fair value losses in the first quarter, the GSE said. The company said it would make a $1.8 billion payment to the Treasury Department in June, bringing the sum it has returned to taxpayers since its rescue in 2008 to $138.2 billion.