Thu, May 7, 9:46 AM| 16 Comments
Thu, May 7, 8:26 AM
Fri, Feb. 20, 8:16 AM
- Q4 net income of $1.3B vs. $3.9B in Q3. Full-year net income of $14.2B vs. $84B in 2013. Last year's income included a $45.4B tax benefit.
- Fannie (OTCQB:FNMA) expects to pay Treasury $1.9B in dividends this quarter, bringing the total paid to $136.4B vs. draws of $116.1B.
- "Fannie Mae expects to remain profitable on an annual basis for the foreseeable future; however, the company expects its earnings in future years will be substantially lower than its earnings for 2014, due primarily to the company’s expectation of substantially lower income from resolution agreements, continued declines in net interest income from its retained mortgage portfolio assets, and lower credit related income."
- Previously: Fannie Mae reports Q4 results (Feb. 20)
- Full report
Fri, Feb. 20, 7:56 AM
Nov. 6, 2014, 8:26 AM| 12 Comments
Nov. 6, 2014, 8:03 AM
May 8, 2014, 7:59 AM
May 8, 2014, 7:41 AM
- 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.
- Press release
Feb. 21, 2014, 8:42 AM
- Q4 net income of $6.5B brings full year net income to $84B, aided by the release of the valuation allowance on the DTAs.
- "While Fannie Mae (FNMA) expects to be profitable for the foreseeable future, the company does not expect to repeat its 2013 financial results, as those results were positively affected by the release of the company’s valuation allowance against its deferred tax assets, a significant increase in home prices during the year, and the large number of resolutions the company reached relating to representation and warranty matters and servicing matters."
- The company will pay Treasury $7.2B in dividends in March, bringing the total to $121.1B vs. draws of $116.1B.
- Full report
Feb. 21, 2014, 8:31 AM
Nov. 7, 2013, 8:23 AM
- Fannie Mae (FNMA): Q3 net income of $8.7B up from $1.8B in year-ago quarter. Positive net worth of $11.6B and will pay $8.6B dividend to Treasury.
- The "dividend sweep" will have Fannie paying $82.4B to Treasury this year, and bring the total dividends paid to $113.9B vs. $116.1B in draws from 2008-11. Treasury - of course - retains its $117.1B in preferred stock.
- Press release.
Aug. 8, 2013, 9:32 AM
- Net income of $10.1B is reduced by $10.2B payment to Treasury, leading to negative $0.03 per share figure in earnings report. After latest payment, Fannie (FNMA.OB) will have sent $105B back to taxpayers against $117.1B received.
- Freddie Mac (FMCC.OB) - which yesterday reported a $5B profit - has sent back $41B after drawing $72B.
- Fannie expects to be profitable "for the foreseeable future" and expects substantial income tax payments to accompany dividend payments to Treasury going forward.
- Full Fannie Mae earnings release.
Aug. 8, 2013, 8:52 AM
May 9, 2013, 8:02 AMFannie Mae (FNMA.OB) pre-tax Q1 income of $8.1B, its largest ever and against $7.6B in Q4, $2.7B a year ago. The company will pay Treasury $59.4B in Q2 after releasing its deferred tax asset to the tune of $50.6B. The release comes about as the company's accountants are convinced Fannie will remain profitable for the foreseeable future. Is Congress really going to shut this machine down? (PR) | 4 Comments
Nov. 7, 2012, 9:11 PMFannie 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) | Comment!
Feb. 29, 2012, 11:12 AMFannie Mae (FNMA.OB) will go Oliver Twist like to the government for another $4.6B after making a net loss of $2.4B in Q4 and $16.9B in the whole of 2011. That's up from $14B in 2010, although Fannie estimates that it has now "reserved for the substantial majority of the remaining losses" on its pre-2009 loans. (PR .pdf) | 3 Comments
FNMA vs. ETF Alternatives
Fannie Mae is a government-sponsored enterprise that was chartered by Congress in 1938 to support liquidity, stability and affordability in the secondary mortgage market, where existing mortgage-related assets are purchased and sold.
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