WASHINGTON (AP) — Mortgage giant Fannie Mae earned $8.7 billion in the July through September period, its seventh straight profitable quarter. The government-controlled company will have nearly repaid in full its taxpayer bailout of five years ago, after paying its third-quarter dividend.

Fannie said Thursday its earnings were boosted by the rise in home prices during the quarter, which enabled it to reduce its reserves set aside for losses on mortgages.