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Fannie Mae increases profits in Q2

Fannie Mae posted another profitable quarter.

Fannie on Thursday reported net and comprehensive income of $4.5 billion for the April-June period, and anticipates paying a dividend to the U.S. Treasury of $4.5 billion. This was up from $4.3 billion in net income and $3.9 billion in comprehensive income in the first quarter.

Fannie provided $125 billion in liquidity to the mortgage market, bankrolling 477,000 home purchase and refinance loans and 188,000 rental units.

Earlier this week, Freddie Mac reported net income of $2.5 billion and comprehensive income of $2.4 billion in the second quarter,  and will pay a dividend of $1.6 billion.

This means that both GSEs will go into the third quarter armed with the maximum allowed $3 billion each in capital reserves, a cushion to protect them from any quarterly loss.  

Given their recent track record of profitability and the strong housing market, both GSEs aren’t likely to need to take a draw on the U.S. Treasury next quarter that will cause any political blowback to end the year. 


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