The government-sponsored mortgage investor posted net income of $3.8 billion in the quarter, a 61% increase from year-ago levels. It was driven primarily by what the company described as a “credit reserve release in the current period compared to a credit reserve build in the second quarter of 2025.” He said the net income was “driven by strong revenues, a credit benefit and continued cost discipline.” Δ Get these articles in your inbox Sign up for our daily newsletter Newsletter Signup - Single Field Email * Sign up If you are human, leave this field blank. “In the second quarter, together with lenders of all sizes, we helped nearly 439,000 households buy, refinance or rent a home, including 97,000 first-time homebuyers,” commented Smith.