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Friday, June 21, 2024 6:28:58 PM
By 2014, it repaid all the money it received and has since poured billions of dollars into the U.S. Treasury.
The company has remained profitable over the past decade. It reported $4.3 billion of net income in the first quarter of 2024. That was a $377 million increase from the fourth quarter of 2023 and up from $3.8 billion in the year-ago period. Fannie Mae's growing income increased its net worth to $82 billion, a significant rise from $25.3 billion in 2020.
The company's strong profitability enabled it to continue supporting the mortgage market. It provided $72 billion of liquidity to the mortgage market in the first quarter of 2024 by purchasing and refinancing loans backed by single-family homes and multifamily rental properties.
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