Fannie Mae Posts $1.9B Profit in 1Q; Paying $1.8B to Government
Mortgage giant Fannie Mae says it had net income of $1.9 billion for the first quarter. That’s sharply down from the same period a year ago, due to lower fee income.
The results, announced Thursday, for the January-March period marked the 13th-straight profitable quarter for the government-controlled company.
Washington-based Fannie also says it will pay a dividend of $1.8 billion to the U.S. Treasury next month. Fannie will have paid $134.6 billion in dividends, exceeding the $116 billion it received from taxpayers during the financial crisis.
The government rescued Fannie and smaller sibling Freddie Mac at the height of the crisis in September 2008.
This article appeared in print in edition of Hamodia.
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