Fannie Mae Profits Down in Third Quarter

Fannie Mae today said that it earned net income of $2 billion in the third quarter. Like Freddie Mac’s report this week, Fannie’s profits fell year-on-year, landing well below the $3.9 billion earned in the third quarter of 2014.

Fannie’s decline in profits was mainly due to derivatives losses, the GSE said. The company said it would make a $2.2 billion payment to the Treasury Department in December, bringing the sum it has returned to taxpayers since its rescue in 2008 to $144.8 billion.