Federal National Mortgage Association (OTCMKTS:FNMA), which is better known as Fannie Mae, has been in the news this week after it announced its financial results for the second fiscal quarter on Tuesday. Hence, it might be a good time for investors to consider taking a look at the numbers posted by the company.
Fannie Mae managed to bring net income of as much as $7.2 billion in the quarter which worked out to a sequential rise of as much as 44%. In the previous quarter, the company had managed to generate net income of $5 billion.
On the other hand, the government backed housing mortgage company also announced that at the end of the quarter on June 30, 2021 its valuation soared to as much as $30 billion. However, there are other numbers that might be even more impressive in the larger scheme of things.
Fannie Mae revealed that it managed to acquire as much as $129.5 billion in the form of single family home buys and that is a record for the company. In addition to that, it was also noted that almost 50% of the buyers were actually first time home buyers. It remains to be seen if these impressive numbers impress investors or not.