Legal News

Freddie & Fannie to Fork Over $39 Billion
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

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.

  
What
Where


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.”

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.

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!!




Image Credit: Gibsonsothebysrealty.com





 

RELEVANT JOBS

Legal Assistant

USA-LA-Baton Rouge

Legal Assistant/Paralegal needed for fast paced Downtown Personal Injury firm. Duties will include c...

Apply now

Real Estate Attorney - in house

USA-CA-San Diego

Are you looking to work with a company who believes in celebrating differences and empowering each o...

Apply now

Paralegal / Office Manager

USA-GA-Atlanta

Baker Jenner LLLP is a growing multi-disciplinary practice looking for a litigation paralegal with a...

Apply now

Associate Attorney

USA-FL-Fort Lauderdale

NOW HIRING ASSOCIATES! Candidates must be admitted and be a practicing attorney or recently admitted...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Patent Agent

USA-NC-Durham

Durham office of a BCG Attorney Search Top Ranked Law Firm seeks a patent agent with 2-6 years of ex...

Apply Now

Patent Agent

USA-NC-Raleigh

Raleigh office of a BCG Attorney Search Top Ranked Law Firm seeks a patent agent with 2-6 years of e...

Apply Now

Patent Agent

USA-NC-Winston Salem

Winston Salem office of a BCG Attorney Search Top Ranked Law Firm seeks a patent agent with 2-6 year...

Apply Now

SEARCH IN ARCHIVE

To Top