in Daily Dose, Featured, Government, News November 2, 2017 614 Views Share In Q3 2017 Fannie Mae reported that although some of its credit-related expense eased by a recent legal settlement, its net income dropped by $177 million, ending up at $3 billion. The drop compared to last quarter was due primarily to credit-related expense principally caused by hurricane-related provisions for credit losses. An increase in credit-related expense was partly offset by income from a settlement agreement related to private-label mortgage-related securities Fannie Mae previously purchased.Since the GSE reported a positive net worth of $3.6 billion as recent as September 30, 2017, they will pay the Treasury a $3 billion dividend in December this year if the Federal Housing Finance Agency (FHFA) declares a dividend in that amount. Fannie Mae reported a net income of $3 billion and a comprehensive income of $3 billion for the third quarter. The GSE also paid $165.8 billion in dividends to the Treasury in Q3 and a $3.1 billion dividend in September 2017.“As our third quarter results demonstrate, our performance and focus on customers have put us in a strong position to continue serving all parts of the market,” said Timothy J. Mayopoulos, Fannie Mae’s President and CEO “We are committed to working with customers to forge a stronger and safer housing finance system that provides opportunities that are affordable to the next generation of American homeowners and renters.”Providing around $150 billion in mortgage financing, Fannie Mae is the largest provider of liquidity to the mortgage market in Q3 2017. The GSE enables families to buy, refinance, or rent homes by making 30-year fixed-rate mortgages and credit access more available.As Fannie Mae transitions to a guaranty-focused business from a mortgage-portfolio focused one, it’s worth noting that more than 75 percent of the company’s net income in the first nine months of 2017 has come from Fannie Mae’s guaranty business.“Fannie Mae is consistently delivering a steady stream of innovations to our customers. We see their challenges as Fannie Mae’s challenges, and we are listening to their feedback to make our customer solutions better and smarter,” said Mayopoulos.To see the full report, click here.