Key facts
- Fannie Mae reported $4 billion in net income for Q2 2026.
- Net income rose 7% from the previous quarter and 20% year-over-year.
- Net worth increased to $116.5 billion.
- Net revenue grew 4% to $7.6 billion.
- Provision for credit losses increased to $485 million.
- The company provided $125 billion in mortgage market liquidity.
Fannie Mae reported a net income of $4 billion for the second quarter of 2026, marking a 7% increase from the previous quarter and a 20% rise compared to the same period in 2025. This growth was driven by higher revenues, primarily from increased net interest income and deferred guaranty fees, which more than offset a rise in the provision for credit losses.
The government-sponsored enterprise's net worth grew to $116.5 billion by the end of the quarter. Net revenue climbed 4% to $7.6 billion. Lower noninterest expenses and a shift from investment losses to gains also contributed to the improved earnings.
However, the provision for credit losses increased to $485 million, up from $277 million in the first quarter, with higher provisions noted in both single-family and multifamily businesses. Fannie Mae anticipates ongoing challenges in the multifamily market, expecting additional delinquencies due to weaker property valuations and slower net operating income growth.
Single-family net income saw a slight increase to $3.3 billion, supported by a rise in conventional acquisition volume to $111.2 billion, attributed to stronger purchase activity during the spring buying season. Refinance activity declined as mortgage rates increased. The single-family serious delinquency rate remained stable at 0.58%.
Multifamily net income rose 29% to $704 million, despite a decrease in acquisition volume. The multifamily serious delinquency rate fell to 0.60% from 0.78%, largely due to loan modifications and foreclosure activity. During the quarter, Fannie Mae provided $125 billion in mortgage market liquidity, supporting approximately 417,000 home transactions, including nearly 110,000 first-time homebuyers.