---
schema_version: "secwatch.filing_event.v1"
accession: "0000310522-23-000211"
form_type: "8-K"
ticker: "FNMA"
cik: "0000310522"
company_name: "FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE"
filed_at: "2023-05-02T23:59:59+00:00"
generated_at: "2026-06-16T03:55:14.464480+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fannie Mae Q1 2023 net income $3.8B, net worth $64B; credit losses down $3.2B

## Summary
- Net income $3.772B vs $1.426B in Q4 2022, driven by $3.2B decrease in provision for credit losses.
- Single-family serious delinquency rate fell to 0.59% (lowest since 2005) from 0.65% in Q4.
- Multifamily serious delinquency rate rose to 0.35% from 0.24%, driven by seniors housing stress.
- Acquisition volume: single-family $67.5B (-21% QoQ), multifamily $10.2B (-45% QoQ).
- Home prices grew 1.0% nationally; 30-year fixed rate averaged 6.32% vs 6.42% at year-end.

## SEC filing metadata
- accession: 0000310522-23-000211
- form_type: 8-K
- ticker: FNMA
- cik: 0000310522
- company_name: FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE
- filed_at: 2023-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/310522/000031052223000211/0000310522-23-000211-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/310522/000031052223000211/fnm-20230502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000310522-23-000211
- JSON: https://secwatch.observer/filing/0000310522-23-000211.json
- Plain text: https://secwatch.observer/filing/0000310522-23-000211.txt

## Key facts
- Earnings Releases
  FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE reported first quarter 2023 results: revenue 6,849, net income $3,772.
  - Period: first quarter 2023
  - Revenue: 6,849
  - Net income: $3,772
  - Result: reported results
  source text: First Quarter 2023 Results 1 Summary of Financial Results (Dollars in millions) Q123 Q422 Variance % Change Q122 Variance % Change Net interest income $ 6,786 $ 7,092 $ (306) (4) % $ 7,399 $ (613) (8) % Fee and other income 63 43 20 47 % 83 (20) (24) % Net revenues 6,849 7,135 (286) (4) % 7,482 (633) (8) % Investment gains (losses), net (67) 26 (93) NM (102) 35 34 % Fair value gains (losses), net 204 (17) 221 NM 480 (276) (58) % Administrative expenses (868) (856) (12) (1) % (808) (60) (7) % Provision for credit losses (132) (3,283) 3,151 96 % (240) 108 45 % TCCA fees (855) (854) (1) — % (824) (31) (4) % Credit enhancement expense (1) (341) (349) 8 2 % (278) (63) (23) % Change in expected credit enhancement recoveries 120 424 (304) (72) % 60 60 100 % Other expenses, net (2) (130) (306) 176 58 % (197) 67 34 % Income before federal income taxes 4,780 1,920 2,860 149 % 5,573 (793) (14) % Provision for federal income taxes (1,008) (494) (514) (104) % (1,165) 157 13 % Net income $ 3,772 $ 1
  evidence_url: https://www.sec.gov/Archives/edgar/data/310522/000031052223000211/0000310522-23-000211-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.