Another Mortgage Giant Posts Quarterly Profit
Mortgage LoanFannie 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 […]
