Fannie Mae Posts $2.2 Billion Net Gain for Second Quarter
HUFFINGTON POST / AP: …The mortgage giant attributed the increase to improving home prices and fewer foreclosures. And it said Wednesday that it was paying $2.9 billion to the Treasury Department, its second straight quarterly dividend.
Fannie’s net income attributable to common shareholders was 37 cents per share in the second quarter. That compares with a net loss of $5.2 billion, or 90 cents per share, in the same period last year.
“We think home prices have stabilized,” Fannie President and CEO Timothy Mayopoulos said in an interview on CNBC… (more)
If you read the entire post you will see the 2.9 Billion is peanuts compared to what they owe. I will always remember how members of congress told us how fannie and freddie were safe only to be bailed out to the tune of 200 Billion dollars. Sure, they were safe. They were backed up by my tax dollars.