Fannie reports record $17.2 billion in profits

``The company reported net income of $17.2 billion for 2012, compared with a loss of $16.9 billion in the prior year, as rising home prices supported the credit quality of Fannie-acquired loans. That is, the estimated impact from bad loans flipped from a large provision for losses in 2011 to a benefit last year. Home prices rose 5.8% in 2012, according to data compiled by Fannie's regulator.'' -- Presumably they'll be sending Ben Bernanke a fruit basket...