The Federal National Mortgage Association earned $477.2 million in the third quarter, 16% more than a year earlier.
Earnings per share reached $1.74 a share, up from $1.51 a share in the 1992 quarter, the company said.
"Portfolio purchases and mortgage-backed securities issues totaled $83 billion in the third quarter," said Lawrence M. Small, Fannie Mae's president and chief operating officer.
For all of 1993, the company's business volume is expected to be "close to $300 billion," Mr. Small said.
Last year, Fannie's total purchases and issues of mortgage-backed securities issues amounted to $256 million.
