If you need assistance, please call 317-590-2901

Fannie Pays Back Taxpayers From Housing Gains

Saturday, May 11, 2013   /   by Carlos J Higareda

Fannie Pays Back Taxpayers From Housing Gains


Fannie Mae announced on Thursday that it will pay $59.4 billion in dividends to the U.S. Treasury, helping to reduce the net cost of its taxpayer bailout to $21.1 billion, Reuters report. 

A strengthening housing market has helped the mortgage giant to record a record profit in the first quarter this year. This also marks the fifth-consecutive quarter for profits for the government-sponsored enterprise (GSE). 

In the first quarter of this year, Fannie said it had a pretax income of $8.1 billion, as well as an additional gain of $50.6 billion by reversing a write-down on certain tax assets, Reuters reports. A year earlier, Fannie had reported a $2.7 billion profit. 

Since government regulators took over Fannie in September 2008, the GSE has received $116.1 billion in taxpayer funds. 

Freddie Mac, which was also placed into FHFA conservatorship in 2008, has received about $71 billion in taxpayer aid since that time. By the end of June, it will have paid $36.6 billion of that back to the Treasury. 

Source: “Fannie Mae to Send $59.4 Billion to U.S. Treasury,” Reuters (May 9, 2013)

eXp Realty
Carlos Higareda
107 N State Road 135
Greenwood, IN 46142

The source of the Licensed Listings is BLC® listing service. The Licensed Listings are confidential information of BLC® listing service. The BLC® listing information is provided by the Metropolitan Indianapolis Board of REALTORS® from a copyrighted compilation of listings. The compilation of listings and each individual listing are © 2024 Metropolitan Indianapolis Board of REALTORS® All Rights Reserved. The information provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All properties are subject to prior sale or withdrawal. All information provided is deemed reliable but is not guaranteed accurate, and should be independently verified.
This site powered by CINC: www.cincpro.com