Oil prices hold sharp losses with focus on secondary India tariffs
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.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.