By Jann Swanson

Posted To: MND NewsWire

Both government sponsored enterprises (GSEs) reported profitable first quarter financial results for the first quarter. Both will pay a dividend for the quarter to the U.S. Treasury and neither anticipates additional Treasury draws. On Thursday Fannie Mae reported net income of $1.9 billion and comprehensive income of $1.8 billion for the first quarter of 2015 compared to net income of $1.3 billion and comprehensive income of $1.34 billion in the fourth quarter of 2014. Net income increased due primarily to lower fair value losses in the first quarter of 2015. Net interest income, which includes guaranty fee revenue, was $5.1 billion for both the first quarter of 2015 and the fourth quarter of 2014. Net interest income in the first quarter was driven by guaranty fee revenue, including amortization…(read more)

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Via:: GSEs Continue Financial Winning Streak

      

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Written by : Mortgage News Daily

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