We are committed to doing our part to improve the mortgage finance system. We are setting responsible standards for the mortgage industry, returning money to taxpayers through dividend payments to Treasury, helping Americans avoid foreclosure, and supporting the housing recovery.
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Data in this video as of or through December 31, 2012.
Fannie Mae has provided $3.5 trillion in mortgage credit. In the first quarter of 2013, we reported $8.1 billion in pre-tax income, our fifth consecutive quarterly profit and the largest quarterly pre-tax income in our history. Improvement in our financial results and other factors enabled us to release a $50.6 billion valuation allowance on deferred tax assets, resulting in net income of $58.7 billion for the first quarter. Our profits go back to taxpayers. We expect to remain profitable for the foreseeable future1. Click here to view our quarterly performance snapshot.
* Data as of or through March 31, 2013 unless otherwise indicated.
We are committed to building a better mortgage finance system. A system that strikes the right balance between providing access to mortgage credit while protecting Americans from too much risk. One that offers more visibility upfront and an ability to price for the risk that is inherent in mortgage finance.
We are working to establish and implement industry standards, develop better tools to price and manage credit risk, build new infrastructure to ensure a liquid and efficient market, and facilitate the collection and reporting of data for accurate financial reporting and improved risk management.