Posted To: MND NewsWire
In releasing its first quarter financial results on Thursday Fannie Mae surprised some by not following Freddie Mac down the rabbit hole. The larger of the two GSEs (government sponsored enterprises) said it did post a first quarter profit, with net income of $1.1 billion and comprehensive income of $936 million. On Tuesday Freddie Mac reported its first quarterly loss since 2012, in the red with a $354 million net loss and a $200 million comprehensive loss. Fannie Mae’s first quarter profit however was considerably smaller than that of the fourth quarter of 2014 when it posted $2.5 billion net and 2.3 billion comprehensive income. The most recent profit came from $5 billion in revenue from interest and fees compared to $5.3 billion the previous quarter. The company said its income was offset…(read more )