Fannie Mae (OTCQB:FNMA) reports Q3 net income of $1.8B vs. a $5.1B loss a year ago as an...

Fannie Mae (OTCQB:FNMA) reports Q3 net income of $1.8B vs. a $5.1B loss a year ago as an improving housing market allowed a $9B drop in loan loss reserves to $67B. Like with Freddie Mac, more and more of the loan book (63% now) consists of mortgages originated post-bubble - thus making them stellar credits. The company expects to report an annual profit for the first time since 2006. (PR)