General World News

Fannie Mae execs see path to exit conservatorship

Fannie Mae, the largest mortgage financier in the U.S., said Friday that its net income in the fourth quarter of 2020 checked in at $4.6 billion – up 8% from the third quarter. The government-sponsored entity’s total net income for the full year was $11.8 billion, and executives on Friday’s earnings call spoke enthusiastically about an eventual exit from forbearance.

However, that nearly $12 billion in net income is down 16% year over year due to a shift from $3.5 billion of credit related income in 2019 to nearly $900 million in credit related expenses in details ⇒

BusinessMediaguide.Com portal received this content from this noted web source: HousingWire.Com