Posted To: MND NewsWire

Both of the government sponsored enterprises (GSEs) posted strong earnings for the fourth quarter of 2019 as well as for the entire year. They are now reporting growing net worth after achieving revisions in the 2012 version of their agreement with the U.S. Treasury that allows them to retain their earning. Fannie Mae reported net income of $14.16 billion for 2019 and fourth quarter earnings of $4.37 billion. The annual income was down from $15.96 billion in 2018, but quarterly income was $402 million higher than that generated in Q3. Net revenues for the year rose from 21.93 billion in 2018 to $22.14 billion last year and from $5.23 billion in the third quarter to $5.85 billion. Revenue includes both net interest income and income from fees. Interest income increased from $5.23 billion in…(read more)

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Source: Mortgage News Daily