Fannie Mae reports $17.2 billion earnings

Foreclosures are declining, new home construction is gaining strength, both indications the housing market is continuing to recover. Fannie Mae reported profits of $17.2 billion for 2012 and expects to remain profitable in the future. Fannie Mae also paid $11.6 billion in dividends to the U.S. Treasury this past year. These are all heartening signs things are improving in the housing market.