Fannie Mae reported its second-quarter 2026 financial results on Wednesday, with the government-sponsored mortgage giant posting $4 billion in quarterly net income.

The figure was up 20% from the $3.3 billion it reported earning a year earlier and 7% from the first quarter’s $3.7 billion in net income.

The quarter marked the 34th consecutive period of profitability for the company. Fannie Mae last posted a quarterly loss in the fourth quarter of 2017, when it recorded a $6.5 billion net loss due to tax law revisions in the Tax Cuts and Jobs Act, signed by President Donald Trump during his first term.

Fannie’s net worth reached $116.5 billion, up 14.6% from $101.6 billion at the end of the second quarter of 2025.

Bill Pulte, Fannie Mae’s board chairman and director of the Federal Housing Finance Agency, touted the growth.

“This shows the company’s continued stability and growth, all while reaching $3 billion in estimated homeowner savings since 2018 through innovative appraisal alternatives,” he commented in a press release accompanying the financial results.

Fannie reported second-quarter net revenue of $7.6 billion, up 3.9% from the first quarter and 4.5% from the $7.2 billion reported a year earlier.

“The strength of our core guaranty business and financial discipline enabled us to deliver another quarter of solid earnings and real impact,” said Peter Akwaboah, Fannie Mae’s acting CEO and chief operating officer.

Akwaboah highlighted the company’s achievements during the quarter, noting that it provided $125 billion in market liquidity, supporting approximately 201,000 home purchases, 117,000 refinances and 99,000 rental units. About 55% of single-family purchases helped nearly 110,000 first-time homebuyers.

“Our financial performance advances our mission to promote a stable, accessible and affordable housing market across America,” he said.

Fannie did need to set aside a larger provision for credit losses in the second quarter. Its $485 million was 75.1% greater than the first quarter’s $277 million but down 48.7% from a year earlier.

Chryssa Halley, Fannie Mae’s chief financial officer, said the results “highlight our large, stable revenue base and continued expense and capital discipline. Together, these strengths contributed to our highest level of quarterly net income in over a year, bringing our net worth to above $116 billion.”