Today, we released our second quarter 2022 financial results and filed our Form 10-Q for the quarter ended June 30, 2022 with the SEC. Below are some highlights from our filing.
Multifamily Business Highlights
- Multifamily provided liquidity for approximately 156,000 units of rental housing in the second quarter of 2022; approximately 93% of the units that were potentially eligible for housing goals credit were affordable to those earning at or below 120% of the median income in their area, providing support for both workforce housing and affordable housing.
- Multifamily revenue was driven by $1.2 billion in net interest income. Over 65% of our multifamily net interest income in the second quarter of 2022 was derived from guaranty fee income, which continued to provide a stable driver of earnings for the business.
- As of June 30, 2022, more than 95% of the loans in the company’s multifamily guaranty book of business that had received a forbearance, measured by unpaid principal balance, were in a repayment plan or reinstated
- Fannie Mae reported net income of $4.7 billion for the second quarter of 2022 compared with $4.4 billion for the first quarter of 2022. The increase in net income compared with the prior quarter was driven primarily by an increase in net interest income.
- Fannie Mae’s net worth increased to $56.4 billion as of June 30, 2022.
- Fannie Mae provided $447 billion in liquidity to the mortgage market in the first half of 2022, enabling the financing of approximately 1.7 million home purchases, refinancings, and rental units.
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