Fannie CEO Upbeat About ’01 Profits

Fannie Mae reported record earnings and put forth an optimistic 2001 outlook that offered new evidence mortgage bankers and thrifts could enjoy an improved business climate this year.

Fannie’s fourth-quarter net income rose 3.6% from the previous quarter and 11.5% from a year earlier, to $1.16 billion, or $1.12 per diluted common share, after a $2.5 million charge for debt extinguishment.