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In this Aug. 8, 2011, photo, the Fannie Mae headquarters is seen in Washington. Fannie Mae earned $17.2 billion lin 2012, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter. The 2012 gain was driven by the housing recovery, which has reduced delinquencies and lifted home prices six years after the bubble burst. (AP Photo/Manuel Balce Ceneta, File)

Fannie's record profit a symbol of housing rebound

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WASHINGTON (AP) -- Home prices are up. Foreclosures are down. Construction is up. And now comes the latest sign of the U.S. home market's revival: Fannie Mae, the mortgage giant that nearly collapsed five years ago, has earned its biggest yearly profit ever.

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By MARCY GORDON

AP Business Writer

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