Tag Archives: Fannie Mae Soars to Record Profits

Mortgage giant Fannie Mae reported $17.2 billion for net income in 2012, its largest annual profit ever, The Wall Street Journal reports. The housing market’s recovery is leading to fewer loans going bad, which is in turn helping Fannie see rising profits. Timothy Mayopoulos, Fannie’s chief executive, said he expects Fannie to “remain profitable for the foreseeable future.” In the fourth quarter of 2012, Fannie posted a $7.6 billion profit. That’s compared to one year earlier, in which the mortgage giant posted a net loss of $2.4 billion. Fannie officials […]