November 2, 2017 / 12:09 PM / in a month

BRIEF-Fannie Mae posts net income of $3.0 bln in Q3

Nov 2 (Reuters) - Federal National Mortgage Association

* Fannie Mae reports net income of $3.0 billion and comprehensive income of $3.0 billion for third quarter 2017

* Fannie Mae paid a $3.1 billion dividend to treasury in september 2017‍​

* Net revenues were $6.5 billion for q3, compared with $5.4 billion for Q2

* Net interest income was $5.3 billion for q3, compared with $5.0 billion for q2

* Qtrly net income reflects increase in credit-related expense, principally due to impact of hurricane-related provision for credit losses‍​

* Reported a positive net worth of $3.6 billion as of September 30, 2017‍​

* Company will pay treasury a $3.0 billion dividend in December 2017‍​

* Net fair value losses were $289 million in the third quarter of 2017, compared with $691 million in the second quarter of 2017‍​

* Hurricanes Harvey, Irma, and Maria contributed about $1.0 billion (pre-tax) to provision for credit losses in Q3 Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1 646 223 8780)

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