Fannie Mae posts positive 4Q results
Feb. 24, 2014 – Fannie Mae posted positive fourth-quarter results on its 2013 earnings, with net income of $6.5 billion – the company’s eighth consecutive quarterly profit – and is set to pay Treasury $7.2 billion in dividends next month.
Fannie Mae generated net income for the year of $84 billion, it said in a release last week. With its March dividend payment, Fannie Mae will have paid a total of $121.1 billion in dividends to Treasury. That exceeds the total $116.1 billion in draw requests to Treasury since 2008.
Fannie Mae has been in conservatorship since 2008. It has funded the mortgage market with about $4.1 trillion in liquidity since 2009.
Separate bills in the House and Senate, and a plan from the president, all call for the eventual elimination of Fannie Mae and Freddie Mac. Senate Banking Committee Chairman Tim Johnson, D-S.D., and Ranking Member Mike Crapo, R-Idaho, are reportedly close to sharing or introducing legislation on housing finance reform. Earlier this month, Johnson and Crapo reiterated their intention to push bipartisan housing finance reform in a joint statement.
NAFCU continues to advocate government-guaranteed credit union access to the secondary mortgage market and loan pricing that prioritizes loan quality over volume as part of any final housing finance reform plan.
"Johnson, Crapo may unveil GSE bill soon," 2/14/14
Fannie Mae press release