FHFA head Mel Watt reminds Congress, investors about the GSEs' limitations under conservatorship. FHFA head Mel Watt reminds Congress, investors about the GSEs’ limitations under conservatorship.

WASHINGTON, DC—Fannie Mae reported a $2.47 billion profit in the fourth quarter, compared to $1.31 billion in net income the same period a year ago. Perhaps most importantly, its Q4 profit is a sharp veer away from its $29 billion loss in Q3 of 2015.