Strong Fannie/Freddie Earnings Mean Another $4.1 Billion for Taxpayers

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Posted To: MND NewsWire

The government sponsored enterprises (GSEs) Fannie Mae and Freddie Mac released their first quarter financial results on Wednesday. Both had slightly lower net income results for the year while only Freddie Mac reported higher income compared to the previous quarter. Despite that, earnings were strong enough that the companies will collectively remit a dividend of $4.1 billion to taxpayers (well… to the US Treasury anyway). Fannie Mae reported both net income and comprehensive income of $2.4 billion during the quarter on revenues (interest, fee, and other income) of $5 billion. In the fourth quarter of 2018 both net and comprehensive income were $3.2 billion on income of $5.1 billion. The net and comprehensive results in the first quarter of last year were $4.3 and $3.9 billion respectively…(read more)

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