Fannie Mae Reports $11.8B In Net Income

Fannie Mae released its 2020 financial results Friday, reporting $11.8 billion in net income for the year and $4.6 billion in the fourth quarter.

Fannie’s net worth climbed to $25.3 billion at the end of the year, up from $14.6 billion at the end of 2019. The company reported providing a record $1.4 trillion in liquidity to single-family and multifamily mortgage markets.

That includes 3.4 million refinanced loans amid historically low interest rates.

“2020 presented the nation with an historic test and Fannie Mae rose to the challenge, delivering a record $1.4 trillion in mortgage liquidity to meet home purchase, refinancing, and rental housing needs,” Chief Executive Officer Hugh R. Frater said.