Fannie Mae Profits Strong in Second Quarter

Fannie Mae today said that it earned net income of $4.6 billion in the second quarter. Like Freddie Mac’s report this week, Fannie’s profits improved from the first quarter, landing above the $3.7 billion earned in the second quarter of 2014.

Fannie’s income grew mainly due to fair value gains, partially offset by credit expenses, the GSE said. The company said it would make a $4.4 billion payment to the Treasury Department in September, bringing the sum it has returned to taxpayers since its rescue in 2008 to $142.5 billion.