Fannie and Freddie Post Record Income
- Neighborhoods and News
- Fannie Mae, Freddie Mac, Linda Moore, real estate agent in encinitas
- April 3, 2013
Real estate agent in Encinitas Linda Moore looks at what the record net incomes of Fannie Mae and Freddie Mac mean for the housing recovery.
It was reported that Fannie Mae saw annual net income of $17.2 billion in 2012, with $7.6 billion of that coming in the fourth quarter alone. Not only is this a record for annual and quarterly income, but it also in stark contrast to the negative net income of $16.9 billion that the mortgage company saw in 2011.
Freddie Mac announced it’s numbers for 2012 last month, reporting that they saw net income of $11 billion for the entire year and $4.5 billion in the fourth quarter.
Both Fannie Mae and Freddie Mac attribute these record numbers to the improved conditions of the market, especially in the ares of significant decline in delinquency rates, increased home prices, and foreclosures seeing higher sales prices as well.
Both Government-Sponsored Enterprises, which entered into government conservatorship in 2008, have begun to pay back the government and taxpayers in dividends. In 2012 Fannie Mae paid $11.6 billion to taxpayers, and so far has paid back the federal government $35.6 billion.
For the full disclosure of financials for Fannie Mae in 2012 you can read the quarterly and annual results report.
