Q1 Earnings

Fannie Mae’s Q1 earnings fell short of expectations, but the GSE turned a profit last quarter. The mortgage giant reported $4.3 billion in net income for Q1 2024, up from $3.9 billion in Q4 2023 but lower than analysts expected. Its overall revenue was $7.1 billion, a sturdy sum but lower than expectations of $7.68 billion. Leaders at the GSE focused on the fact that Fannie Mae has turned a profit for 25 consecutive quarters.  “The strength of the U.S. economy, higher single-family home prices, and the credit quality of our book of business continue to be important factors affecting our performance. This quarter, we provided $72 billion in liquidity to the U.S. housing market. This helped 280,000 households buy,…