The quarterly number of home-purchase loans financed by the Federal National Mortgage Association turned sharply higher. Refinance transactions, though, sank.
Before federal income taxes, Fannie Mae earned $4.8 billion during the the three months concluded on June 30, according to its second-quarter earnings report.
Income at the Washington-based firm was a little stronger than $4.2 billion earned in the preceding three months, and $4.3 billion earned during the same three months last year.
The government-controlled enterprise reported that it provided $135 billion in mortgage financing during the second quarter.
Fannie claims it had a 39 percent share of the market for new single-family mortgage-related securities issued in the second quarter.
Although the volume of home-purchase loans financed by Fannie jumped to 316,000 from 233,000 in the first quarter, refinance transactions financed by the secondary lender fell to 222,000 in the second quarter from 303,000.
Multifamily units financed
declined to 162,000 from 202,000 in the first-three months of this year.
Fannie reported that it owned or guaranteed 20 percent of outstanding debt on multifamily properties.
Multifamily business and other rental volume was $30.6 billion during the first half of this year.
Dividends paid to the Department of the Treasury since Fannie entered conservatorship in September 2008 came to $162.7 billion through June 2017.
In addition, a $3.1 billion dividend will be paid to the Treasury in September if the Federal Housing Finance Agency declares a dividend.
Lifetime Treasury draws at Fannie stand at $116.1 billion.
