After-tax losses at the Federal National Mortgage Association will result in a request for funding from the Department of the Treasury. Single-family refinance volume sank last year.
During the 12 months that concluded on Dec. 31, 2017, pre-tax income was $18.4 billion, according to Fannie Mae’s fourth-quarter earnings report.
There was hardly any difference in the Washington-based company’s earnings when compared to $18.3 billion in pre-tax income for the prior annual period.
Source: Mortgage Daily