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WASHINGTON - Fannie Mae (OTC:FNMA) reported fourth quarter net income of $4.1 billion, as the government-sponsored enterprise continued to build its capital base and provide liquidity to the U.S. housing market.
The mortgage finance giant generated revenue of $7.3 billion in the fourth quarter, falling short of analyst estimates of $7.78 billion. For the full year 2024, Fannie Mae reported net income of $17.0 billion on revenue of $29.1 billion, driven primarily by guaranty fee income from its $4.1 trillion guaranty book of business.
"Fannie Mae concluded the year with a strong quarter, generating net income of $4.1 billion, and $17.0 billion for the year," said Priscilla Almodovar, President and CEO of Fannie Mae. "In 2024, we grew our net worth to nearly $95 billion, continued to build our regulatory capital, and carried out our mission."
The company provided $381 billion in liquidity to the housing market in 2024, enabling financing for approximately 1.4 million home purchases, refinancings, and rental units. This included about 778,000 single-family purchase loans, with roughly half going to first-time homebuyers.
As of December 31, 2024, Fannie Mae's net worth reached $94.7 billion, continuing to build its capital base as it operates under government conservatorship.
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