Both Fannie Mae and
Freddie Mac (the GSEs) reported strong financial results in the fourth quarter of
2020 and significant growth in their net worth which, for the first time in
their 12 years in conservatorship, they have an unlimited capacity to grow. Fannie Mae’s net and comprehensive income was $4.6 billion in the
fourth quarter and $11.8 billion for the entire year. The quarterly net and
comprehensive incomes were both about $300 million higher than in Q3, but the
full year fell well short of the 2019 total net of $14.2 billion and
comprehensive of $14 billion.