Fannie Mae Progress
In the past few years, we’ve made significant progress. We’ve taken actions to improve our financial performance‚ build a profitable new book of business‚ and reduce losses. Our priorities are aligned with the public interest and we are committed to doing our part to improve the mortgage finance system. That’s why we created Know Your Options, to educate consumers about their housing finance options and connect them with needed resources and assistance.
While many other market participants stepped aside, we have provided approximately $4.1 trillion in mortgage credit since 2009 to help keep the U.S. housing finance system liquid. We appreciate that we could not fulfill this important role without taxpayer support. By keeping funds flowing when many other sources are not, we support the housing recovery, which strengthens the U.S. economy.
In the fourth quarter of 2013, we reported net income of $6.5 billion‚ our eighth consecutive quarterly profit. Our profits go back to taxpayers. Through March 31‚ 2014‚ Fannie Mae will have paid taxpayers approximately $121.1 billion in dividends*. But we measure our progress by more than profit alone.
Ultimately, we measure our progress not only by paying taxpayers and improving the housing finance system‚ but also by the difference we make in people’s lives.
*Dividends do not offset prior draws.