Fannie Mae to pay feds $1.8B after first-quarter profit

fannie mae

fannie maeBy Clea Benson and Jody Shenn | Bloomberg

Fannie Mae, the mortgage-finance company operating under U.S. conservatorship, will pay the Treasury Department $1.8 billion after reporting net income of $1.9 billion for the first quarter.

The company, which was seized along with smaller rival Freddie Mac during the credit crisis in 2008, will have returned $138.2 billion to the federal government after it makes the payment next month, according to a regulatory filing Thursday.

“This was another quarter of strong financial performance,” Timothy J. Mayopoulos, Fannie Mae’s chief executive officer, said in a statement. “While we experienced some interest rate volatility again this quarter, we expect to remain profitable on an annual basis for the foreseeable future.


Share this!

Additional Articles

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories