Tag Archives: Another Mortgage Giant Posts Quarterly Profit

Fannie Mae announced that an improving housing market has helped it post a $1.8 billion profit during the third quarter, and as such, the mortgage giant will not be needing to ask for more aid in taxpayer bailout money. A year prior, Fannie Mae reported a loss of $5.1 billion. “We are seeing signs of sustained improvement in housing and our actions to support the housing recovery have generated strong financial results in 2012,” says Timothy Mayopoulos, Fannie Mae’s chief executive. Rising home prices and lower credit losses are helping […]