Promote Your Attorney Profile on Law.net - Get Found / Earn More!
Lawsuit Claims Sephora Discriminated Against Customers of Asian Descent
Lawsuit Claims Sephora Discriminated Against Customers of Asian Descen...
Apple Must Pay 20 Million for Patent Infringement
Apple Must Pay 20 Million for Patent Infringement
Battle Over Bratz Dolls to Continue in Court
Battle Over Bratz Dolls to Continue in Court
Halliburton to Purchase Baker Hughes for 34.6 Billion
Halliburton to Purchase Baker Hughes for 34.6 Billion
Legal Job Listings

Freddie & Fannie to Fork Over $39 Billion

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.

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.

 

 

Job of the Day
Corporate Associate with 2-3 years of Corporate Law Experience
USA-DC-Washington

Top international law firm is seeking a corporate associate for their DC office, with 2-3 years of corporate law experience, to focus on global reorganizations matters. While prior experience with reo...

Related Posts: