Federal National Mortgage Association (Fannie Mae) reported that Omeed Malik resigned from its Board of Directors, effective October 30, 2026.
Fannie Mae earned $4.177 billion in third-quarter 2026 net income, up 8% from $3.859 billion a year earlier. Net revenues rose 5% to $7.651 billion from $7.307 billion, and net worth reached $119.637 billion as of September 30, 2026, 13% above a year earlier. The guaranty book of business was $4.1 trillion.
Credit-loss provision was $1.140 billion, versus $338 million a year earlier. Fannie Mae said higher net revenues and a shift from fair value losses to gains contributed to increased net income, partly offset by the larger provision. Total comprehensive income fell 18% to $3.140 billion as unrealized losses on available-for-sale securities increased. Single-family net income rose 18% to $3.642 billion, while multifamily net income fell 31% to $535 million.
Fannie Mae provided $103 billion in mortgage-market liquidity and helped nearly 103,000 first-time homebuyers purchase homes during the quarter. Actual available CET1 capital was a deficit of $30 billion as of September 30, 2026. The 11.1% illustrative return is based on average required CET1 capital; the enterprise regulatory capital framework is not currently in effect while Fannie Mae is in conservatorship.
Fannie Mae reported third-quarter 2026 net income of $4.177 billion, up $318 million from the prior-year quarter, and nine-month net income of $11.879 billion, up $1.042 billion year over year. Third-quarter net revenues were $7.651 billion, up $344 million; fair-value gains increased $617 million, while the provision for credit losses rose $802 million to $1.140 billion. Net worth increased $10.6 billion to $119.6 billion as of September 30, 2026.
Fannie Mae provided $344.1 billion in mortgage-market liquidity during the first nine months of 2026, supporting financing for approximately 1.2 million home purchases, refinancings and rental units. Its single-family serious delinquency rate was 0.62% as of September 30, 2026, compared with 0.54% as of September 30, 2025. Since September 2026, all approved lenders may elect to use VantageScore 4.0 for eligible single-family loans; pricing adjustments for VantageScore 4.0 and classic FICO were aligned effective October 1, 2026. Conservatorship and Treasury agreements restrict Fannie Mae's business activities and stockholder rights.
Fannie Mae reported strong second-quarter 2026 results. Net income was $3.98 billion, up from $3.72 billion in the first quarter and $3.32 billion a year earlier. Net revenues rose to $7.57 billion, driven mainly by higher net interest income, and net worth increased to $116.5 billion as of June 30, 2026. Net interest income was $7.49 billion and total assets were $4.33 trillion. The guaranty book of business remained large at $4.1 trillion, and illustrative return on average required CET1 capital was 10.8%, up from 10.4% in the prior quarter, while the company noted its actual CET1 capital position remains in deficit.
Both major business segments contributed to profitability. The single-family segment earned $3.28 billion of net income and the multifamily segment $704 million, each higher than the prior quarter and year-ago period. Provision for credit losses increased to $485 million (including $226 million single-family and $259 million multifamily), but non-interest expense fell to $2.07 billion. Credit metrics stayed stable to improving, with the single-family serious delinquency rate at 0.58% and the multifamily serious delinquency rate declining to 0.60%. Fannie Mae also highlighted mission activity, providing $125 billion in mortgage market liquidity supporting about 417,000 home purchases, refinances, and rental units, including nearly 110,000 first-time homebuyers.
Fannie Mae reported Q2 2026 net income of $4.0 billion, up from $3.3 billion a year earlier, as net revenues increased to $7.6 billion and provision for credit losses fell to $485 million. Year‑to‑date net income reached $7.7 billion on $14.8 billion of net revenues, helped by higher net interest income from portfolios and guaranty fees and a $681 million reduction in non‑interest expense, partly offset by weaker fair‑value and investment results.
Net worth rose $7.5 billion in the first half to $116.5 billion, with total assets of $4.33 trillion and a retained mortgage portfolio of $175.0 billion, reflecting substantial agency MBS purchases. The guaranty book of business was $4.14 trillion, while the single‑family serious delinquency rate stayed low at 0.58%. Multifamily credit provisions increased amid higher vacancy rates and a 20% decline in property values from 2022 peaks, alongside ongoing home price growth and extensive mortgage credit‑risk transfer programs.
Fannie Mae reported solid first quarter 2026 results, earning $3.7 billion in net income, up from $3.5 billion in the prior quarter and $3.7 billion a year earlier. Net revenues were $7.3 billion, essentially flat quarter over quarter, while a shift from fair value losses to gains and lower administrative expenses supported profit growth.
The company’s net worth rose to $112.7 billion as of March 31, 2026, a $3.7 billion increase from year-end and up $14.4 billion year over year. Its guaranty book of business totaled $4.1 trillion, with a stable single-family serious delinquency rate of 0.58% and a multifamily rate of 0.78%. Administrative expenses fell 19% from the prior quarter, and Fannie Mae provided $116 billion in liquidity, supporting about 385,000 home purchases, refinances, and rental units.
Fannie Mae reported net income of $3.7 billion for the first quarter of 2026, slightly above the same period in 2025, as higher revenue and lower expenses offset increased credit costs and investment losses. Net revenues rose to $7.3 billion, driven by stronger net interest income from its retained mortgage portfolio and higher base guaranty fees. Non-interest expense fell to $2.2 billion, helped by lower administrative and credit enhancement costs, while the provision for credit losses increased to $277 million, mainly from rising multifamily delinquencies and new single-family acquisitions.
Net worth grew by $3.7 billion to $112.7 billion, and the guaranty book of business remained large at over $4.1 trillion. The retained mortgage portfolio expanded to $168.7 billion, largely from additional agency MBS purchases after FHFA raised Fannie Mae’s investment limit. Single-family serious delinquencies stayed low at 0.58%, though the company noted that slower expected home price growth and pressure in multifamily markets could weigh on future credit performance.
Fannie Mae has launched fixed-price cash tender offers to repurchase any and all of a series of Connecticut Avenue Securities (CAS) Notes listed in the announcement. The offers are made on the terms set out in an Offer to Purchase and related Notice of Guaranteed Delivery, each dated February 23, 2026.
The offers expire at 5:00 p.m. New York City time on February 27, 2026, unless extended or earlier terminated. Holders who validly tender and have their Notes accepted will receive the stated tender offer consideration per $1,000 of original principal, plus accrued and unpaid interest to, but not including, the expected March 3, 2026 settlement date.
Fannie Mae reported solid 2025 results with lower earnings but a much stronger balance sheet. The company earned $3.5 billion in the fourth quarter of 2025 and $14.4 billion for the full year, while net worth rose to $109.0 billion as of December 31, 2025, up from $94.7 billion a year earlier.
Net revenues were stable at $7.3 billion for the quarter and $29.0 billion for the year, but full‑year net income fell $2.6 billion from 2024, mainly because a $186 million benefit for credit losses in 2024 turned into a $1.6 billion provision in 2025 and fair value gains dropped by $1.7 billion. The $4.1 trillion guaranty book of business continued to generate most net interest income, with single‑family contributing $11.4 billion of 2025 net income and multifamily $2.9 billion.
Credit performance remained strong with low serious delinquency rates, though single‑family delinquencies ticked up to 0.58% and multifamily to 0.74% at year‑end 2025. Fannie Mae also cut annual non‑interest expenses by $141 million, including a $40 million reduction in administrative expenses, and has now achieved 14 straight years of annual profitability.
Fannie Mae reports 2025 results showing its central role in U.S. housing finance and ongoing constraints from conservatorship and capital rules. The company provided $409.3 billion in liquidity, financing about 1.5 million home purchases, refinancings, and rental units. Net income was $14.4 billion, down $2.6 billion from 2024, mainly because a prior benefit for credit losses turned into a $1.6 billion provision and fair value gains fell by $1.7 billion. Net revenues were broadly stable at $29.0 billion, while non‑interest expense edged down to $9.6 billion. Net worth grew to $109.0 billion at December 31, 2025. Fannie Mae remained a leading guarantor, owning or guaranteeing about 25% of U.S. single‑family and 21% of multifamily mortgage debt as of September 30, 2025. The company continues to operate in FHFA conservatorship, with Treasury’s senior preferred stock showing a liquidation preference of $227.0 billion at year‑end, scheduled to rise to $230.5 billion based on fourth‑quarter net worth growth. Under FHFA’s enterprise regulatory capital framework, Fannie Mae reports a $22 billion deficit in available capital and a $215 billion shortfall to its risk‑based adjusted total capital requirement including buffers, though these minimum requirements and buffers do not yet apply while it remains in conservatorship.