Fannie Mae Reports $3.2B Profit in Second Quarter

Fannie Mae today said that it earned net income of $3.2 billion in the second quarter, up from $2.8 billion in the first quarter. The increase was largely due to an increase in credit-related income and investment gains in the second quarter, following first quarter losses.

Fannie will pay a $3.1 billion dividend to the U.S. Treasury in September, bringing its total payments to $165.8 billion since it entered federal conservatorship in 2008. Fannie Mae and Freddie Mac combined have returned $276 billion to taxpayers over that time.

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Monica C. Meinert

Monica C. Meinert is deputy editor of the ABA Banking Journal and editorial director at the American Bankers Association, where she oversees ABA Daily Newsbytes.