Fannie Mae Posts $4.2 Billion in Third-Quarter Net Income as Credit Provisions Climb
WASHINGTON — Fannie Mae reported third-quarter 2026 results on October 28: net income of $4.18 billion (about $4.2 billion), up 8 percent year over year and about 5 percent from the prior quarter, on net revenues of $7.65 billion (about $7.7 billion) — the highest since 2023, with roughly 79 percent generated by the core guaranty business. The company's net worth rose to $119.6 billion.
The offset was rising credit costs. The provision for credit losses reached $1.14 billion in the quarter, up sharply from $485 million in the second quarter, driven mainly by weakening multifamily credit. Single-family acquisitions fell from $111.2 billion in the second quarter to $88.3 billion, a decline of about one-fifth and the lowest level of the year. High rates are suppressing new loan volume, though they also discourage prepayments, sustaining earnings on the existing book.
Chief Financial Officer Chryssa Halley said the company earned $4.2 billion in the quarter and has provided about $344 billion in liquidity this year, supporting roughly 295,000 homebuyers, with earnings "powered by large and stable net revenues." Federal Housing Finance Agency Director Bill Pulte, who chairs Fannie Mae's board, also emphasized the company's role in the housing finance system in the earnings release.
As the largest supporter of U.S. mortgage lending, Fannie Mae's results are a barometer for the housing market: steady guaranty-fee income shows the existing book remains solid, while falling acquisitions and rising provisions point to strain on both transactions and credit in a high-rate environment.
Source: Fannie Mae
Published by GSM · USA (original Chinese edition)
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