Fannie Mae posts $2.2B net gain for Q2

[Omaha Steve]

Source: AP-Excite

By MARCY GORDON

WASHINGTON (AP) - Fannie Mae earned $2.2 billion from April through June, its second quarterly gain in net income since being taken over by the government during the 2008 financial crisis.

The mortgage giant attributed the increase to improving home prices and fewer foreclosures.

Fannie said Wednesday that it paid a dividend of $2.9 billion to the Treasury Department and sought no additional aid.

Fannie's net income attributable to common shareholders was 37 cents per share in the second quarter. That compares with a net loss of $5.2 billion, or 90 cents per share, in the same period last year.

FULL story at link.


Read more: http://apnews.excite.com/article/20120808/DA0H9TO80.html

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In a Monday, Aug. 8, 2011 file photo, the Fannie Mae headquarters is seen in Washington. Mortgage giant Fannie Mae has posted its second quarterly gain in net income since it was taken over by the government during the 2008 financial crisis. Fannie isn’t requesting any additional federal aid for the April-June quarter. Fannie Mae said Wednesday, Aug. 8, 2012 its net income attributable to common shareholders was $2.2 billion, or 37 cents per share, in the second quarter. That compares with a net loss of $5.2 billion, or 90 cents per share, in the same period last year. (AP Photo/Manuel Balce Ceneta, File)

[banned from Kos]

1. the housing market has bottomed

up from here.

This is a MUST WIN election to get credit for the 2009-11 bank reform.,

[99th_Monkey]

2. Is this the same Fannie Mae who was blocked from helping to foreclosed homeowners??

http://www.businessweek.com/news/2012-08-08/fannie-regulator-may-seek-to-block-eminent-domain-seizures
http://www.housingwire.com/news/treasury-pressures-fhfa-higher-principal-reduction-savings

This whole thing is such a freak show shell game cluster-fuck on steroids.

So Fannie can post impressive profits before the election? Horray!!

Never-mind millions of underwater homeowners.

[truthisfreedom]

3. I guess Fannie found a way to cover her ass.

Not to create a meme or something.