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Fannie Mae's $10 billion profit heading to Treasury

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Staff writer ▼ | August 8, 2013
Fannie Mae reported net income of $10.1 billion for the second quarter of 2013, compared with net income of $5.1 billion for the second quarter of 2012. Net income for Q2 2013 was the company's sixth consecutive quarterly profit.
Fannie MaeFannie Mae reported net income of $10.1 billion for the second quarter of 2013, compared with net income of $5.1 billion for the second quarter of 2012. Net income for Q2 2013 was the company's sixth consecutive quarterly profit.


Fannie Mae reported comprehensive income of $10.3 billion for the second quarter of 2013, compared with comprehensive income of $5.4 billion for the second quarter of 2012. Fannie Mae reported a positive net worth of $13.2 billion as of June 30, 2013 and will pay $10.2 billion to taxpayers as a dividend on the senior preferred stock.

Fannie Mae reported a strong second quarter in 2013 driven primarily by continued stable revenues and boosted by a significant increase in home prices in the quarter, which resulted in a reduction in the company's loss reserves.

Year-over-year improvement was due primarily to gains on Fannie Mae's assets recorded at fair value in the second quarter of 2013 as a result of increases in interest rates, compared with fair value losses in the second quarter of 2012; and an increase in credit-related income.

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