Fannie Mae Q2 Net Income Rises

(RTTNews) - Federal National Mortgage Association (FNMA.PK), also known as Fannie Mae, announced its second quarter-financial results, reporting a net income of $3.982 billion, or $0.03 a share, compared to $3.317 billion, or $0.00 a share, in the prior year.

Net revenues for the period rose to $7.565 billion from last year's $7.241 billion, primarily driven by higher net interest income from portfolios and higher net deferred guaranty fee income.

Commenting on the report, Chief Financial Officer Chryssa Halley stated that the results reflect the company's stable revenue base and continued expense and capital discipline.

FNMA closed trading at $6.12, up 0.49 percent on the OTC Markets.