Mortgage giant Fannie Mae yesterday reported a $2.7 billion profit during the first three months of the year, saying it would not require additional taxpayer aid for the first time since the government seized the troubled firm in 2008, the Washington Post reported today. The company had reported a $2.4 billion loss the previous quarter and a $6.5 billion loss during the same period a year ago. Fannie Mae attributed its positive numbers largely to improvements in the nation's housing market, including stabilizing home prices, falling mortgage delinquency rates and brisk sales of foreclosed homes. In addition, the firm said that it plans to set aside fewer reserves against potential losses as the housing market begins to heal, and it said that it expects its financial results in 2012 to be "significantly better" than last year.
