General World News

Fannie Mae hauls in $4.7B net income for Q2 2022

Fannie Mae reported $4.7 billion in net income for the second quarter of 2022, up from $4.4 billion in the first quarter.

Net revenues increased by $200 million in the first six months of the year compared to last year, thanks to higher base guarantee fee income, an increase in the size of Fannie Mae’s guaranty book of business and higher income from portfolios. As rising mortgage rates sap borrower appetite to refinance, fewer loans leave Fannie Mae’s book of business.

Fannie Mae’s net worth stood at $56.4 billion at the end of the second quarter, up from details ⇒

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