"We delivered another strong quarter of reporting net income of $4 billion up 7% from the first quarter and 20% year-over-year with net revenues of $7.6 billion." (EVP, COO & Acting CEO Peter Akwaboah ...

Fannie Mae reports a 7% increase in net income, bolstered by a robust guaranty business, while navigating multifamily market pressures and interest rate impacts.

WASHINGTON, Feb. 22, 2024 /PRNewswire/ -- Fannie Mae (OTCQB: FNMA) today announced Peter Akwaboah has been appointed Executive Vice President and Chief Operating Officer (COO), effective May 20, 2024.

Fannie Mae posted a $4 billion profit in Q2 2026, up 7% from the previous quarter, as net revenue rose 4% to $7.6 billion.

The $259 million provision was primarily driven by weaker property valuations, slower net operating income growth and provision for loans that became seriously delinquent. We also recognized $157 ...