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

Fannie Mae (FNMA.OB) 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)

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