WASHINGTON, DC—Fannie Mae has reported net income of $5.3 billion for the first quarter of 2014, its ninth consecutive quarterly profit.
The news follows a report from the Congressional Budget Office noting that the GSEs' profits have helped drive down the budget deficit in fiscal year 2014.
The GSE also reported comprehensive income of $5.7 billion for the first quarter of 2014. The GSE will be paying the Treasury Department $5.7 billion in dividends in June 2014, for a total of $126.8 billion since 2008. The GSE has had $116.1 billion in draw requests in that time period.
Some of the GSE's revenues for the quarter came from one time events, such as $4.1 billion from legal settlements relating to private-label securities lawsuits.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
