Fannie and Freddie smile, pay off

Screen Shot 2014-08-11 at 9.43.57 AMBoth Fannie Mae and Freddie Mac reported their second quarter numbers on Friday: Fannie Mae recorded income of $3.7 billion for the quarter, and Freddie Mac reported income of $1.9 billion.

MHN Online  reports Fannie will pay $3.7 billion in dividends to the United States and Freddie $1.9 billion, under the terms of the GSE’s conservatorships created during the worst of the housing collapse.

During the crisis, the GSEs went bankrupt, then into conservatorship and then started drawing financial support from the federal government. All together, Fannie drew a total of $116.1 billion and Freddie drew a total of $71.3 billion. Counting the most recent payments of dividends to the government, Fannie has paid a total of $130.5 billion and Freddie has paid $88.2 billion (that is not, however, “paying back” the government, since the bailout wasn’t structured as a loan).

Related: Top Obama Housing Official to Step Down/The Wall Street Journal

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