Fannie Mae has disclosed a decline in its first-quarter net income even as the government-sponsored housing-finance giant said the rate of serious delinquencies on single-family mortgages kept declining. So reports Dow Jones Newswires.
Fannie Mae posted net income of $4.41 billion for the period, versus $5 billion during the first quarter of 2021.
The company mainly attributed the drop to investment losses and credit-related costs.
Read the full article from Dow Jones Newswires.