Nbadan
02-22-2014, 12:12 AM
A successful, and now profitable, government program that helps the little guy buy a home...time for the GOP to try and destroy it..
Fannie Mae Payments to U.S. Will Exceed Bailout
Source: Bloomberg
Fannie Mae will pay the Treasury Department $7.2 billion after posting an eighth straight quarterly profit, pushing total dividend payments above the $116.1 billion of aid it received after the financial crisis.
The mortgage-finance company, which is operating under federal conservatorship, had net income of $6.5 billion for the three months ended Dec. 31, Washington-based Fannie Mae (FNMA) said today in a regulatory filing. That brought earnings for 2013 to $84 billion, the highest ever for the 80-year-old firm.
“Obviously, it’s good news for taxpayers that Fannie Mae is profitable,” Chief Executive Officer Timothy J. Mayopoulos said on a call with reporters. “I don’t think our profitability should be interpreted as a reason for delaying housing-finance reform.”
Fannie Mae and Freddie Mac (FMCC) were seized by regulators in September 2008, just before the failure of Lehman Brothers Holdings Inc., amid losses that pushed them toward collapse. The companies, which provide liquidity to the mortgage market by buying loans and packaging them into guaranteed securities, have returned to profitability as the housing market recovered and they raised fees.
Read more: http://www.bloomberg.com/news/2014-02-21/fannie-mae-to-pay-u-s-7-2-bln-after-quarterly-
We made money off the bank bailout....
We may well end up making money off the GM bailout, for that matter....
Just from a government finance standpoint, we should have bailouts more often...
Fannie Mae Payments to U.S. Will Exceed Bailout
Source: Bloomberg
Fannie Mae will pay the Treasury Department $7.2 billion after posting an eighth straight quarterly profit, pushing total dividend payments above the $116.1 billion of aid it received after the financial crisis.
The mortgage-finance company, which is operating under federal conservatorship, had net income of $6.5 billion for the three months ended Dec. 31, Washington-based Fannie Mae (FNMA) said today in a regulatory filing. That brought earnings for 2013 to $84 billion, the highest ever for the 80-year-old firm.
“Obviously, it’s good news for taxpayers that Fannie Mae is profitable,” Chief Executive Officer Timothy J. Mayopoulos said on a call with reporters. “I don’t think our profitability should be interpreted as a reason for delaying housing-finance reform.”
Fannie Mae and Freddie Mac (FMCC) were seized by regulators in September 2008, just before the failure of Lehman Brothers Holdings Inc., amid losses that pushed them toward collapse. The companies, which provide liquidity to the mortgage market by buying loans and packaging them into guaranteed securities, have returned to profitability as the housing market recovered and they raised fees.
Read more: http://www.bloomberg.com/news/2014-02-21/fannie-mae-to-pay-u-s-7-2-bln-after-quarterly-
We made money off the bank bailout....
We may well end up making money off the GM bailout, for that matter....
Just from a government finance standpoint, we should have bailouts more often...