$8.6 BILLION 

Comprehensive 

income for 

Q3 2013

Net income

for Q3 2013

$8.7 BILLION 

Fannie Mae

Progress Report

THIRD QUARTER 2013

 We have established responsible credit 

standards to protect homeowners and 

taxpayers while making it possible for families 

to purchase, refinance, or rent a home. 

 We expect that the loans in our new singlefamily book of business will be profitable over 

their lifetime.

 We significantly strengthened our underwriting 

and eligibility standards and changed our 

pricing to promote sustainable homeownership 

and stability in the housing market.

 As a result, loans in our new single-family book 

of business have strong credit risk profiles.

OUR PURPOSE

	We are focused on supporting the housing 

market recovery and building a sustainable 

housing finance system for the future.

	Our priorities are aligned with the public 

interest.

	We are committed to providing liquidity to 

the mortgage market; assisting troubled 

borrowers; enabling families to buy, refinance, 

or rent a home; and building a book of 

business that will help return taxpayers’ 

investment in the company.

OUR RESULTS

THIRD QUARTER 2013

	Our strong third quarter results were driven 

primarily by continued stable revenues 

and credit-related income, resulting in net 

income of $8.7 billion for the third quarter, 

the company’s seventh consecutive quarterly 

profit.

	Credit-related income was positively

affected by:

•	 an increase in home prices in the quarter,

which resulted in a reduction in our loss 

reserves 

•	 recognition of compensatory fees received

in connection with the Bank of America 

compensatory fee agreement 

•	 a decline in the number of delinquent loans

in our single-family guaranty book

of business

SINGLE-FAMILY

BOOK OF BUSINESS

AS OF SEPTEMBER 30, 2013

As of September 30, 2013

Single-Family Loans prior to 2009

Single-Family Loans 2009 through

September 30, 2013

25% 75%

LEGACY NEW

New book of

business is strong,

profitable, and

growing.
* Fannie Mae data for the period January 1, 2009 through

September 30, 2013, unless otherwise noted.

www.fanniemae.com/progress

This report includes our expectations regarding our future financial results, 

profitability, our ability to pay taxpayers, our future dividend payments to 

Treasury, and the growth, profitability, and caliber of the loans in our new 

single-family book of business. These expectations are forward-looking 

statements based on our current assumptions regarding numerous factors, 

including future home prices. Our actual results and future expectations 

may differ materially from our current expectations as a result of home price 

changes, unemployment rates, other macroeconomic and housing market 

variables, future legislative or regulatory requirements, borrower behavior, 

and many other factors, including those discussed in the “Risk Factors” section of and elsewhere in our annual report on Form 10-K for the year ended 

Dec. 31, 2012 and our quarterly report on Form 10-Q for the quarter ended 

Sept. 30, 2013. 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.

FANNIE MAE

PERFORMANCE SNAPSHOT*

	High-quality new book of business 

accounted for 75 percent of single-family 

conventional guaranty book of business as 

of September 30, 2013.

	Remained the largest single issuer of 

single-family mortgage-related securities in 

the secondary market in the third quarter 

of 2013 and remained a constant source of 

liquidity in the multifamily market.

	Funded the mortgage market with 

approximately $3.9 trillion in liquidity, which 

enabled borrowers to complete 12.0 million 

mortgage refinancings and 3.4 million 

home purchases, and provided financing 

for 2.0 million units of multifamily housing.

	Refinanced approximately 3.7 million 

mortgages through the company’s Refi 

PlusTM initiative, including loans refinanced 

under the Administration’s Home Affordable 

Refinance Program (HARP). As a result of 

Refi Plus, borrowers’ monthly payments 

were reduced by an average of $210 in the 

third quarter of 2013.

	Helped distressed families retain their 

homes or avoid foreclosure through 

approximately 1.5 million workout 

solutions, including nearly 1 million loan 

modifications.

DRIVING DOWN THE SERIOUS 

DELINQUENCY (SDQ) RATE

	Our single-family SDQ rate has declined 14 

consecutive quarters.

LIQUIDITY AND SUPPORT

TO THE MARKET

	We funded the mortgage market with 

approximately $3.9 trillion in liquidity since 

2009, enabling families to buy, refinance, or 

rent a home: 

	Fannie Mae’s single-family SDQ rate was 

2.55 percent.

	Our single-family SDQ rate is substantially 

lower than private market levels.

	95 percent of Fannie Mae’s 17.5 million 

single-family conventional loans are current.

Data as of Sept. 30, 2013 3900 Wisconsin Avenue, NW © 2013, Fannie Mae

Washington, DC 20016-2892 Published Nov. 7, 2013

home

purchases

3.4

million

rental units

2.0

million

mortgage

refinancings

12.0

million

5.47%

2.55%

1Q10

3Q13

TREASURY DRAWS

AND DIVIDEND PAYMENTS

	As of December 31, 2013, Fannie Mae will 

have paid taxpayers approximately $114 

billion in dividends. We expect to remain 

profitable for the foreseeable future. 

(1) Treasury draw requests are shown in the period for which 

requested and do not include the initial $1.0 billion liquidation 

preference of Fannie Mae’s senior preferred stock, for which 

Fannie Mae did not receive any cash proceeds. The payment of 

dividends cannot be used to offset prior Treasury draws.

(2) Our dividend for the fourth quarter of 2013 is calculated based 

on our net worth of $11.6 billion as of Sept. 30, 2013 less the 

applicable capital reserve amount of $3.0 billion.

(3) Amounts may not sum due to rounding.

$8.6

Q4 20132

$0.0

2008

$2.5

2009

$7.7

2010

$9.6

2011

$11.6

2012

$4.2

Q1 2013

Dividend Payment to Treasury

(in billions)

$59.4

Q2 2013

Cumulative

Total

Total Dividend Payments through Q4 2013 $113.9 3

$10.2

Q3 2013

$15.2

2008

$60.0

2009

$15.0

2010

$25.9

2011

$0.0

2012

$0.0

Q1 2013

$0.0

Q2 2013

Draw Request from Treasury

(in billions)

Cumulative

Total

Initial Liquidation Preference $1.0

Treasury Draw Requests1 $116.1

Total Senior Preferred Stock Outstanding $117.1

TBD

Q4 2013

$0.0

Q3 2013