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Posted On: 02/17/2017 9:00:19 AM
Post# of 23063
Fannie Mae to pay Treasury $5.5 billion after profit doubles
Published: Friday, February 17, 2017 @ 8:14 AM
Updated: Friday, February 17, 2017 @ 8:13 AM
Fannie Mae to pay Treasury $5.5 billion after profit doubles
FILE - This Monday, Aug. 8, 2011, file photo shows the Fannie Mae headquarters in Washington. Fannie Mae will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter. (AP Photo/Manuel Balce Ceneta, File)
New York — Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter.
The government-controlled mortgage company has already paid the Treasury $154.4 billion in dividends since receiving $116.1 billion in government bailouts between 2008 and 2011. Fannie Mae's sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit soared.
Both companies buy mortgages from lenders, package them as bonds, guarantee them against default and sell them to investors. They do not make loans to homebuyers directly.
Fannie Mae said it had net income of $5.04 billion in the fourth quarter, up from $2.5 billion in the same period a year ago.
For all of 2016, The Washington, D.C., company reported net income of $12.31 billion, up from $10.95 billion in 2015.
Published: Friday, February 17, 2017 @ 8:14 AM
Updated: Friday, February 17, 2017 @ 8:13 AM
Fannie Mae to pay Treasury $5.5 billion after profit doubles
FILE - This Monday, Aug. 8, 2011, file photo shows the Fannie Mae headquarters in Washington. Fannie Mae will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter. (AP Photo/Manuel Balce Ceneta, File)
New York — Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter.
The government-controlled mortgage company has already paid the Treasury $154.4 billion in dividends since receiving $116.1 billion in government bailouts between 2008 and 2011. Fannie Mae's sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit soared.
Both companies buy mortgages from lenders, package them as bonds, guarantee them against default and sell them to investors. They do not make loans to homebuyers directly.
Fannie Mae said it had net income of $5.04 billion in the fourth quarter, up from $2.5 billion in the same period a year ago.
For all of 2016, The Washington, D.C., company reported net income of $12.31 billion, up from $10.95 billion in 2015.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
