Fannie Maeis no longer bleeding cash, at least for now.
After devastating losses since 2008, the mortgage giant reported its second straight quarter of positive net income, even after making a $2.9 billion dividend payment to the U.S. Treasury. Fannie Mae has taken $117.1 billion from the Treasury since the fall of 2008.
Improving home prices and decreasing mortgage delinquencies have helped to boost the bottom line, but Fannie Mae's CEO Tim Mayopoulos, who took the reigns of the company earlier this summer, says he's not convinced housing is out of the woods yet.
"I think it's too early to declare a national housing recovery,"Mayopoulos said in an interview Wednesday on CNBC. "What's driving our results has been home price improvements. We are not expecting to see huge improvements going forward."