Federal National Mortgage Assn.: The Washington-based congressionally...
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From Times Staff and Wire Reports
Federal National Mortgage Assn.: The Washington-based congressionally chartered, shareholder-owned company and the nation’s largest investor in home mortgages said first-quarter net income rose 67% to $277 million. Fannie Mae said that its net interest margin was the widest in history, that it issued the largest volume of mortgage-backed securities in any first quarter and that properties acquired through foreclosures dropped to their lowest level since peaking in 1987.
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