---
schema_version: "secwatch.filing_event.v1"
accession: "0000310522-23-000398"
form_type: "8-K"
ticker: "FNMA"
cik: "0000310522"
company_name: "FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE"
filed_at: "2023-08-01T23:59:59+00:00"
generated_at: "2026-06-12T19:27:03.808231+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fannie Mae Q2 2023 net income $5.0B, up 32% QoQ; credit benefit drives increase

## Summary
- Net income of $5.0B in Q2 2023, up $1.2B from Q1 2023, driven by $1.4B shift to benefit for credit losses.
- Provided $104B liquidity to mortgage market; acquired 227K single-family purchase loans (45% first-time homebuyers) and 139K multifamily rental units.
- Single-family serious delinquency rate fell to 0.55% from 0.59%; multifamily rate rose to 0.37% from 0.35%.
- Home prices grew 3.6% nationally in Q2 2023, up from 1.4% in Q1; 30-year fixed rate averaged 6.71% at quarter end.
- Net worth increased to $69.0B from $64.0B at end of Q1 2023.

## SEC filing metadata
- accession: 0000310522-23-000398
- form_type: 8-K
- ticker: FNMA
- cik: 0000310522
- company_name: FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE
- filed_at: 2023-08-01T23:59:59+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/310522/000031052223000398/0000310522-23-000398-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/310522/000031052223000398/fnm-20230801.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000310522-23-000398
- JSON: https://secwatch.observer/filing/0000310522-23-000398.json
- Plain text: https://secwatch.observer/filing/0000310522-23-000398.txt

## Key facts
- Earnings Releases
  FEDERAL NATIONAL MORTGAGE ASSOCIATION FANNIE MAE reported the quarter ended June 30, 2023 results: revenue $7,105, net income $4,994.
  - Period: the quarter ended June 30, 2023
  - Revenue: $7,105
  - Net income: $4,994
  - Result: reported results
  source text: Second Quarter 2023 Results 1 Summary of Financial Results (Dollars in millions) Q223 Q123 Variance % Change Q222 Variance % Change Net interest income $ 7,035 $ 6,786 $ 249 4 % $ 7,808 $ (773) (10) % Fee and other income 70 63 7 11 % 81 (11) (14) % Net revenues 7,105 6,849 256 4 % 7,889 (784) (10) % Investment gains (losses), net 25 (67) 92 NM (49) 74 NM Fair value gains, net 404 204 200 98 % 529 (125) (24) % Administrative expenses (864) (868) 4 — % (795) (69) (9) % Benefit (provision) for credit losses 1,266 (132) 1,398 NM (218) 1,484 NM TCCA fees (856) (855) (1) — % (841) (15) (2) % Credit enhancement expense (1) (384) (341) (43) (13) % (332) (52) (16) % Change in expected credit enhancement recoveries (160) 120 (280) NM (47) (113) NM Other expenses, net (2) (257) (130) (127) (98) % (261) 4 2 % Income before federal income taxes 6,279 4,780 1,499 31 % 5,875 404 7 % Provision for federal income taxes (1,285) (1,008) (277) (27) % (1,222) (63) (5) % Net income $ 4,994 $ 3,772 $ 1,222
  evidence_url: https://www.sec.gov/Archives/edgar/data/310522/000031052223000398/0000310522-23-000398-index.htm

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