Fannie Mae to pay Treasury $10.2B as housing prices rise | Armonk Homes

Fannie Mae, the mortgage financier seized by U.S. regulators in 2008, will pay the Treasury Department $10.2 billion after reporting its sixth consecutive quarterly profit on continued recovery in the housing market.

The government-sponsored enterprise, which is operating under federal conservatorship, had net income of $10.1 billion for the three-month period that ended June 30, according to a statement released Thursday.

“Fannie Mae reported a strong second quarter in 2013 driven primarily by continued stable revenues and boosted by a significant increase in home prices in the quarter, which resulted in a reduction in the company’s loss reserves,” the company said in the statement.

After its latest payment, Washington-based Fannie Mae will have sent the Treasury a total of $105 billion, compared with the $117.1 billion of aid the company has received. Freddie Mac, which Wednesday reported a $5 billion quarterly profit, will have paid about $41 billion after drawing $72 billion.

Don Layton, Freddie Mac’s chief executive officer, said his McLean, Va.-based company may send Treasury as much as $28.6 billion within the next two quarters if tax credits it holds have value based on expectation of continued profitability.




Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Fannie Mae to pay Treasury $10.2B as housing prices rise | Armonk Homes.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758
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