Fannie Mae

Progress Report

second Qua rt er 20

 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

second QUARTER 2

	Continued stable revenues and a significant

increase in home prices, which resulted in a 

reduction in our loss reserves, resulted in 

net income of $10.1 billion for the second 

quarter, the company’s sixth consecutive 

quarterly profit. 

SINGLE-FAMIL

BOOK OF BUSINES

a of June 30

As of June 30, 201

Single-Family Loans prior to 2009

Single-Family Loans 2009 through

June 30, 2013

72%

28%

legacy

ne

New book o

business is strong,

profitable, and

growing.

$10.3

 BILLION

Comprehensive 

income for 

Q2 2013

Net income

for Q2 2013

$10.1

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

June 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 

December 31, 2012 and our quarterly report on Form 10-Q for the quarter

ended June 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.

FANN

PERFORMAN

	High-quality new book of business 

accounted for 72 percent of single-family 

guaranty book of business as of

June 30, 2013.

	Remained the largest single issuer of 

single-family mortgage-related securities 

in the secondary market in the second 

quarter of 2013 and remained a constant 

source of liquidity in the multifamily market.

	Funded the mortgage market with 

approximately $3.7 trillion in liquidity, which 

enabled borrowers to complete 11.4 million 

mortgage refinancings and 3.1 million 

home purchases, and provided financing 

for 1.9 million units of multifamily housing.

	Refinanced approximately 3.5 million 

mortgages through the company’s Refi 

PlusTM initiative, including loans refinanced 

under the Administration’s Home Affordabl

Refinance Program (HARP). As a result o

Refi Plus, borrowers’ monthly payments 

were reduced by an average of $234 in the 

second quarter of 2013.

	Helped 1.3 million families retain their 

homes or avoid foreclosure through 

workout solutions, including approximately 

962,000 loan modifications.

DRIVING DOWN THE SERI

DELINQUENCY (SDQ)

	Our single-family SDQ rate has declined 

consecutive quarters.

LIQUIDITY AND SUPP

TO THE MARKET

	We funded the mortgage market with 

approximately $3.7 trillion in liquidity since 

2009, enabling families to buy, refinance, or 

rent a home: 

	Fannie Mae’s single-family SDQ rate wa

2.77 percent.

	Our single-family SDQ rate is substantial

lower than private market levels.

	95 percent of Fannie Mae’s 17.4 million 

single-family conventional loans are current.

Data as of June 30, 201

3900 Wisconsin Avenue, NW © 2013, Fannie M

Washington, C 20016-2892 Published Aug. 8, 2

home

purchases

3.1

million

rental units

1.9

million

mortgage

refinancings

11.4

million

5.47%

2.77%

1Q10

2Q13

tr

and DIVIDE

	As of September 30, 2013, Fannie Mae wil

have paid taxpayers approximately $105 

billion in dividends. We expect to remain 

profitable for the foreseeable future. 

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

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 third quarter of 2013 is calculated base

on our net worth of $13.2 billion as of June 30, 2013 less the 

applicable capital reserve amount of $3.0 billion.

(3) Amounts may not sum due to roundin

$10.2

Q3 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)

Cumulative

Total

Total Dividend Payments through Q3 2013 $105.3

$59.4

Q2 2013

3

$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

Q3 2013