Fannie Mae net income up

Fannie Mae reported net income of $3.2 billion and comprehensive income of $3.1 billion for the second quarter of 2017.

Fannie Mae’s net income of $3.2 billion for the second quarter compares to $2.8 billion for the first quarter of 2017. The increase was due primarily to an increase in credit-related income and a shift to investment gains in the second quarter from investment losses in the first quarter.

The company reported a positive net worth of $3.7 billion as of June 30 and will pay the U.S. Treasury a $3.1 billion dividend in September if the Federal Housing Finance Agency declares a dividend in that amount.

“Our results reflect the strength of our business model and the momentum of our strategy,” said CEO Timothy J. Mayopoulos.

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