Here are the 10-Q quarterly reports from Fannie MAE VAR RTE F PFD (FNMAP) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow FNMAP and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full FNMAP filings page.
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 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 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 (Federal National Mortgage Association) filed its quarterly report for the period ended September 30, 2025. The company provided $286.7 billion in liquidity to the mortgage market in the first nine months of 2025, supporting approximately 1.1 million home purchases, refinancings, and rental units. Guaranty fees on Fannie Mae MBS remain the primary revenue source, reflecting its role as a guarantor of mortgage-backed securities rather than a loan originator.
Fannie Mae continues to operate under FHFA conservatorship. Since March 17, 2025, the FHFA Director serves as Board Chair, and FHFA’s General Counsel also serves on the Board. As of June 30, 2025, the company owned or guaranteed an estimated 25% of U.S. single-family mortgage debt and 21% of multifamily mortgage debt. Shares outstanding were 1,158,087,567 as of October 10, 2025.