Earnings improved at the Federal National Mortgage Association as the secondary lender financed a greater volume of residential and apartment loans.
Fannie Mae earned $4.7 billion before federal income taxes during the three months that ended on Sept. 30, 2016, rising from $3.0 billion a year earlier.
The Washington-based company disclosed the results, in additional to other financial and operational metrics, in its third-quarter 2016 earnings report.
In the second quarter of this year, pre-tax income was $4.3 billion.
A $3.0 billion planned dividend payment to the Treasury Department in December will bring to $154.4 billion total dividends paid since entering conservatorship in September 2008.
Cumulative dividend payments have significantly exceeded the $116.1 billion in draws taken during the same period.
With $184 billion in mortgage financing provided during the most-recent quarter, “Fannie Mae was the largest provider of liquidity to the mortgage market.”
The government-controlled enterprise said that the third-quarter 2016 liquidity it provided financed 953,000 housing units, more than 726,000 three months earlier and 690,000 one year earlier.
The latest total consisted of 338,000 purchase-money loans, 375,000 mortgage refinances and 240,000 multifamily housing units — all increasing from the prior and year-prior quarters.
During the latest three-month period, single-family acquisitions came to $165.6 billion.
The total accelerated from $135.0 billion in the second quarter. Activity also ascended from $124.5 billion in the third quarter of last year.
For all nine months of this year that have elapsed, single-family acquisitions amounted to $402.8 billion.
Single-family refinance share was trimmed to 53.0 percent in the third-quarter 2016 from 53.4 percent the prior period. Refinance share was wider, though, than 46.1 percent a year prior.
The single-family book of business concluded September 2016 at $2.82 trillion, no different than three months earlier but lower than $2.83 trillion one year earlier. The conventional portion of the latest book was $2.7728 trillion.
In its multifamily business, new business volume was $40.7 billion during the first-nine months of 2016, including $17.9 billion in the latest quarter.
Fannie’s multifamily guaranty book of business was $0.2362 trillion as of the close of the third-quarter 2016, growing from $0.2252 trillion as of mid-2016 and $0.2121 trillion as of the same date last year.
