Fannie Mae net income of $5.3B; expects to remain profitable

|About: Fannie Mae (FNMA)|By:, SA News Editor

Fannie Mae (FNMA) Q1 net income of $5.3B vs. $5.7B in Q4, and includes $4.1B in revenue from legal settlements.

Expected $5.7B dividend payment to Treasury will bring total to $126.8B vs. $116.1B in draws.

"Fannie Mae expects to remain profitable for the foreseeable future," but annual net income going forward should be "substantially lower" than 2013.