April 24, 2024 11:19 pm
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Fannie and Freddie face a less profitable future

FannieBy Nick Timiraos and Eliot Brown

Fannie Mae FNMA +1.46%  and Freddie Mac FMCC +0.74%  had another blockbuster quarter and will deliver $10.2 billion in dividends to the U.S. Treasury next month, but earnings reports Thursday hinted that their recent run of profitability could soon moderate as a string of one-time gains fades.

The mortgage-finance firms, which the government seized in 2008 to prevent a broader market meltdown, notched combined first-quarter net income of $9.3 billion, driven by legal settlements with big banks on lawsuits that were filed by the companies’ regulator. Fannie and Freddie reported $4.1 billion and $4.9 billion, respectively, from those settlements.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.