Free Market Evaluation - Send us your resume and we will give you free feedback
Judge Rules that Dole CEO Must Repay Shareholders
Judge Rules that Dole CEO Must Repay Shareholders
Passengers Get Lousy Drink Voucher Whereas Lawyers Get Millions
Passengers Get Lousy Drink Voucher Whereas Lawyers Get Millions
Jared Fogle to Plead Guilty to Possession of Child Pornography
Jared Fogle to Plead Guilty to Possession of Child Pornography
Settlement Reached With Some Banks for Forex Manipulation
Settlement Reached With Some Banks for Forex Manipulation
Legal Job Listings
Download PDF

Freddie & Fannie to Fork Over $39 Billion View Count: 99

Mortgage Financiers Freddie Mac and Fannie Mae will pay the US Treasury $39 billion in dividends. Freddie will give $30.4 billion and Fannie will pay $8.6 billion, after both had strong Q3 earnings. The payments will bring the two “quasi-public” companies closer to their public repayment breakeven point after receiving a massive post housing bubble bust cash infusion.

What

 job title, keywords

Where

 city, state, zip



After these two payments will be made, both Mac and Mae will have given the government $185.2 billion back, relative to the $187.4 billion that they were given in their time of need. Fannie and Freddie are under U.S. “conservatorship” as the Treasury “maintains control through its preferred stock in both companies,” according to Yahoo News.

The debate is ongoing in Congress on how exactly to restructure the firms once they are in the black and profitable again. There are calls for the businesses to shrink and wind down, or even to “get the government out of the mortgage finance business.”

Get JD Journal in Your Mail
Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Both Freddie and Fannie have seen good times with the rebounding housing market, as healthier home prices and fewer foreclosures require a smaller sinking fund for loan-losses.

Freddie reported a net income this quarter of 30.5 billion up from $2.9 billion last year. Fannie reported that it was $8.7 billion up from $1.8 billion last year. Both companies have positive outlooks for the future.

Image Credit: Gibsonsothebysrealty.com

Freddie & Fannie to Fork Over $39 Billion by

Tagged: , , , , , ,

Jaan Posted by on November 8, 2013. Filed under Business News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

 

 

Related Posts: