As of October 14, 2024, Fannie Mae (Federal National Mortgage Association) reported having 1,158,087,567 shares of common stock outstanding. The company is not classified as a shell company.
In the third quarter of 2024, Fannie Mae's net revenues remained relatively flat compared to the same period in 2023. However, net income for Q3 2024 saw a significant decrease of $655 million, primarily attributed to a decline in fair value gains and a reduced benefit for credit losses.
For the first nine months of 2024, net revenues increased by $522 million compared to the same timeframe in 2023, largely driven by an increase in net interest income. Despite this revenue growth, net income for the first nine months of 2024 decreased by $617 million compared to the previous year, again due to lower benefits from credit losses and fair value gains, although this was partially offset by the rise in net interest income.
Fannie Mae's net worth increased to $90.5 billion as of September 30, 2024, up from $77.7 billion at the end of 2023. The company provided $273.9 billion in liquidity to the mortgage market during the first nine months of 2024, facilitating approximately 993,000 home purchases, refinancings, and rental units.
As of June 30, 2024, Fannie Mae owned or guaranteed about 26% of the single-family mortgage debt and 21% of the multifamily mortgage debt outstanding in the United States. In terms of net interest income, single-family operations generated $6,131 million in Q3 2024, a slight increase from $6,074 million in Q3 2023. Multifamily net interest income, however, saw a minor decline, totaling $1,144 million in Q3 2024 compared to $1,146 million in the same quarter of the previous year.
The serious delinquency rate for single-family loans stood at 1.5% as of September 30, 2024, while the rate for multifamily loans was reported at 0.56%. Fannie Mae's total assets were valued at $4,334,556 million, with total liabilities amounting to $4,244,026 million as of the same date.
About FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE
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