Fannie Mae Reports Strong Q3 2024 Financial Results
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Fannie Mae Reports Strong Q3 2024 Financial Results

Federal National Mortgage ( (FNMA) ) has released its Q3 earnings. Here is a breakdown of the information Federal National Mortgage presented to its investors.

Federal National Mortgage Association, commonly known as Fannie Mae, is a leading player in the U.S. housing finance system, providing liquidity and stability to the mortgage market by purchasing and guaranteeing mortgage loans, primarily in the secondary mortgage market.

In its third quarter of 2024 earnings report, Fannie Mae reported a net income of $4.0 billion, maintaining a strong financial position with a net worth of $90.5 billion. The company continues to demonstrate resilience in transforming its business despite challenges in housing affordability.

Key financial metrics from the report include a $440 million decrease in net income compared to the previous quarter, attributed mainly to a decline in fair value gains and a decrease in credit loss benefits. Fannie Mae provided $106 billion in liquidity, facilitating the financing of 383,000 home purchases, refinancings, and rental units. It acquired approximately 231,000 single-family purchase loans and financed 103,000 multifamily rental housing units, emphasizing its support for affordable housing.

Looking ahead, Fannie Mae remains committed to driving liquidity in the housing market, managing risks effectively, and aiming to shape a housing market that is accessible to a broader audience, despite ongoing market challenges.

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