Debt Pay down:
Fannie Mae, the mortgage finance
Debt Pay down:
Fannie Mae, the mortgage finance company seized by the government during the 2008 financial crisis, reported a $17.2 billion profit for last year and has repaid more than a quarter of the federal money that was needed to keep it afloat.
The company may be able to pay as much as $58.9 billion later this year, after it reviews its decision to write off the value of tax benefits it gained from huge losses in previous years, including a $16.9 billion net loss in 2011.
``We expect our earnings to remain strong over the next few years," said Timothy Mayopoulos, chief executive officer of Fannie Mae , which has repaid $35.6 billion of the $116.1 billion it received from the Treasury since 2008.
Fannie Mae (FNMA) Stock Research Links
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