Fannie Mae Profit Falls
Wall Street Journal - August 7, 2014 - August 7, 2014
By Michael Calia
Fannie Mae said its second-quarter profit fell 64% as net interest income for the period declined.
The government-backed mortgage-finance giant said it will have paid $130.5 billion in dividends to the U.S. Treasury Department after its planned $3.7 billion payment in September.
Fannie Mae had received $116.1 billion in bailout funds from the government, and now the company and rival Freddie Mac FMCC +0.25% are required to send the Treasury almost all of their profit as dividends. Fannie Mae said it hasn’t received any funds from the Treasury since the first quarter of 2012.
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