Published on 10th May 2012
"Mortgage giant Fannie Mae on Wednesday reported a $2.7bn profit during the first three months of the year, saying it would not require additional taxpayer aid for the first time since the government seized the troubled firm in 2008. The company had reported a $2.4bn loss the previous quarter and a $6.5bn loss during the same period a year ago. Fannie Mae attributed its positive numbers largely to improvements in the nation’s housing market, including stabilizing home prices, falling mortgage delinquency rates and brisk sales of foreclosed homes,” says the Washington Post.