Our Financial Results: 

Q4 2017

Our Reach

We enable people to buy, refinance, and rent homes

across the United States.

Progress Q4 and Full Year

Data as of or through December 31, 2017 unless otherwise indicated.

Our 2017 results demonstrate that the fundamentals of our business are solid. While the fourth quarter was affected 

by an expected one-time accounting charge, our business performance in the quarter was excellent, and we expect 

to benefit from a lower tax rate going forward. As we had consistently forecasted, we remained profitable in 2017. We 

are in a strong position to serve the changing needs of homeowners and renters, and to advance our vision to 

be America’s most valued housing partner.

www.fanniemae.com/progress For more information, see our 2017 Form 10-K, filed with the SEC on February 14, 2018. Continued on next page

Full-year 2017

Net loss

$6.5 Billion

Comprehensive loss

$6.7 Billion

Pre-tax income

$5.0 Billion

Net income

$2.5 Billion

Comprehensive income

$2.3 Billion

Pre-tax income

$18.4 Billion

Our quarterly and full-year 2017 results reflect the impact of 

a $9.9 billion provision for federal income taxes in Q4 2017 

resulting from the remeasurement of our deferred tax assets 

due to enactment of the Tax Cuts and Jobs Act.
Liquidity and Support to the Market

• Provided approximately $570 billion in liquidity to the mortgage market in 2017, including 

approximately $148 billion in the fourth quarter of 2017.

• Was the largest issuer of single-family mortgage-related securities in the secondary market in 

the fourth quarter and full year of 2017. Had an estimated market share of new single-family 

mortgage-related securities issuances of 39% for full-year 2017 and 37% for the fourth quarter 

of 2017.

• Provided more than $67 billion in multifamily and other rental financing and supported 770,000 

units of multifamily housing in 2017, the highest multifamily rental volume in the history of our 

Delegated Underwriting and Servicing (DUS®) program.

Dividend Payments to Treasury

(in billions)

$116.1

$31.4

$0.0 $0.0

$82.5

$0.0

$20.6

$0.0 $10.3 $9.6 12.0 $3.7

$119.8

$166.4

2008-2012 2013 2014 2015 2016 2017 Total (1)

Draws from Treasury (2)

(in billions)

0

50

100

150

This report includes our expectations regarding future profitability, financial results and performance, draws of funds from Treasury and credit risk transfer transactions. These expectations 

are forward-looking statements based on our current assumptions regarding numerous factors. Our actual results and future expectations may differ materially from our current expectations 

as a result of many factors, including those discussed in the “Risk Factors” and “Forward-Looking Statements” sections of and elsewhere in our Annual Report on Form 10-K for the year 

ended December 31, 2017. These forward-looking statements are representative only as of the date they are made, and we undertake no obligation to update any forward-looking statement 

as a result of new information, future events or otherwise, except as required under the federal securities laws.

Treasury Draws 

and Dividend Payments

Fannie Mae has paid Treasury $166.4 billion in 

dividends for periods through December 31, 2017.

(1) Under the terms of the senior preferred stock purchase agreement, dividend payments we make 

to Treasury do not offset our prior draws of funds from Treasury, and we are not permitted to 

pay down draws we have made under the agreement except in limited circumstances. Amounts 

may not sum due to rounding.

(2) Treasury draws are shown in the period for which requested, not when the funds were received 

by us. Accordingly, the 2017 draw amount and 2008-2017 total draw amount reflect the $3.7 

billion we will draw to eliminate our net worth deficit as of December 31, 2017. Draw requests 

have been funded in the quarter following a net worth deficit.

Transferring Credit Risk

• Through our credit risk transfer transactions, in which we transfer a portion of the 

mortgage credit risk on loans we acquire, we increase the role of private capital in 

the mortgage market and reduce risk to our business, taxpayers, and the housing 

finance system.

• As of December 31, 2017, $922 billion in single-family mortgages, or approximately 

32% of the loans in the company’s single-family conventional guaranty book of 

business, measured by unpaid principal balance, were covered by a credit risk 

transfer transaction.

Published February 14, 2018

3900 Wisconsin Avenue, NW

Washington, DC 20016-2892

© 2017 Fannie Mae

Fannie Mae Progress Q4 and Full Year

rental units

refinancings

293K home purchases

217K

246K

$148B provided to the market in Q4 2017 enabled:

12/31/14 12/31/15 12/31/16 12/31/17

0

$200B

$400B

$600B

$800B

$1T

0

10%

20%

30%

40%

50%

Outstanding unpaid principal balance of loans in a credit risk transfer refernce pool

% Single-family conventional guaranty book in a credit risk transfer reference pool

9%

$239

15%

$421

23%

$648

32%

$922

Outstanding unpaid 

principal balance of loans 

in a credit risk transfer 

reference pool

% Single-family 

conventional guaranty 

book in a credit risk 

transfer reference pool