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Fannie Mae to pay Treasury $5.7 billion on quarterly profit
May 8, 2014 / 11:56 AM / 3 years ago

Fannie Mae to pay Treasury $5.7 billion on quarterly profit

WASHINGTON, May 8 (Reuters) - Government-controlled mortgage finance firm Fannie Mae said on Thursday it would send the U.S. Treasury a dividend of $5.7 billion after posting a ninth straight quarterly profit.

Once it has made the latest payment in June, it will have returned $126.8 billion to taxpayers in return for the $116.1 billion in taxpayer aid it received after being placed under the government’s wing at the height of the financial crisis.

The company, the nation’s largest source of mortgage funds, earned a net income of $5.3 billion during the first three months of the year. It cited revenue from litigation related to private-label securities and fees they charge lenders to guarantee loans for the performance. (Reporting By Margaret Chadbourn Editing by W Simon)

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