Federal National Mortgage Assn. said second-quarter earnings...
From Times Wire Services
Federal National Mortgage Assn. said second-quarter earnings rose 17% because of increased loan-guaranty fees, declining losses from debt redemptions and share repurchases.
The Washington, D.C.-based company, better known as Fannie Mae, earned $667.8 million, or 61 cents a share, in the second quarter, up from $572.6 million, or 51 cents a share, in the same quarter last year.
Fannie Mae’s earnings met the expectations of Wall Street analysts, who had expected a second second-quarter profit.
