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Fannie Mae Q1 Profit Drops Despite Fewer Delinquencies

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 Mae2 150x150Fannie 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.

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