Nbadan
04-03-2013, 12:41 AM
Weren't they edging toward extinction just three short years ago?
Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012
Last edited Wed Apr 3, 2013, 12:46 AM USA/ET - Edit history (2)
Source: http://www.npr.org/blogs/thetwo-way/2013/04/02/176
The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.
That allowed it to pay $11.6 billion in dividends to the U.S. Treasury Department last year, Fannie Mae says. Since 2008, it has "paid taxpayers $35.6 billion in dividends." Looking ahead, "we expect our earnings to remain strong over the next few years," Timothy Mayopoulos, president and chief executive officer, said in a statement.
Read more: NPR
All up Fannie & Freddie have been a good investment
Fannie Mae Beats Wal-Mart and GE With Record Profit in 2012
Washington-based Fannie Mae and McLean, Virginia-based Freddie Mac (FMCC) buy mortgages from lenders and package them into securities on which they guarantee payments of principal and interest. Since they were taken into conservatorship in 2008, the two companies have drawn $187.5 billion from Treasury and have sent back $65.2 billion in dividends, which count as a return on the government’s investment and not as a repayment.
Freddie Mac reported in February that it earned $11 billion in 2012, compared with a loss of $5.3 billion in 2011
http://www.bloomberg.com/news/2013-04-02/fannie-mae-reports-record-profit-for-2012-on-housing-s-recovery.html
A Government-run program that provides stability to home ownership and pays taxpayers back? Say it ain't so...
Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012
Last edited Wed Apr 3, 2013, 12:46 AM USA/ET - Edit history (2)
Source: http://www.npr.org/blogs/thetwo-way/2013/04/02/176
The government-controlled mortgage giant Fannie Mae, which needed a $116 billion federal bailout after the housing bubble burst in 2007, said Tuesday that it earned a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year.
That allowed it to pay $11.6 billion in dividends to the U.S. Treasury Department last year, Fannie Mae says. Since 2008, it has "paid taxpayers $35.6 billion in dividends." Looking ahead, "we expect our earnings to remain strong over the next few years," Timothy Mayopoulos, president and chief executive officer, said in a statement.
Read more: NPR
All up Fannie & Freddie have been a good investment
Fannie Mae Beats Wal-Mart and GE With Record Profit in 2012
Washington-based Fannie Mae and McLean, Virginia-based Freddie Mac (FMCC) buy mortgages from lenders and package them into securities on which they guarantee payments of principal and interest. Since they were taken into conservatorship in 2008, the two companies have drawn $187.5 billion from Treasury and have sent back $65.2 billion in dividends, which count as a return on the government’s investment and not as a repayment.
Freddie Mac reported in February that it earned $11 billion in 2012, compared with a loss of $5.3 billion in 2011
http://www.bloomberg.com/news/2013-04-02/fannie-mae-reports-record-profit-for-2012-on-housing-s-recovery.html
A Government-run program that provides stability to home ownership and pays taxpayers back? Say it ain't so...