Fannie Mae Reports Earnings Per Share Up $17.6%

WASHINGTON, DC-Compared to the same period last year, Fannie Mae’s first quarter net income is up 16.6%, according to the company’s earnings report. Net income was $1.2 billion, while earnings per share were 17.6% over the same period last year, at $1.20.

“At a time when many companies are reporting disappointing results, Fannie Mae continues to meet or exceed performance expectations,” says Fannie Mae CEO Franklin D. Raines. He says the company’s access to international capital markets has allowed it to purchase record numbers of mortgages during the first quarter. “Fannie Mae’s critical role in providing liquidity during the current period of mortgage refinancings has been extremely beneficial to homeowners and lenders, and also to our shareholders,” he says.