Fannie Mae will pay $2.8B to Treasury after profit

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(Bloomberg) — Fannie Mae said it expects to make a $2.8 billion dividend payment to the U.S. Treasury in June after reporting a first-quarter profit driven by a relatively stable mortgage market a.

 · By December 2009 – when the Treasury’s authority under HERA expired – the agencies amended the agreements to allow the Treasury to commit at least $200 billion to each Company.

WASHINGTON –The U.S. Department of the Treasury today announced a set of modifications to the Preferred Stock Purchase Agreements (PSPAs) between the Treasury Department and the Federal housing finance agency (fhfa) as conservator of Fannie Mae and Freddie Mac (the Government Sponsored Enterprises or GSEs) that will help expedite the wind down of Fannie Mae and Freddie Mac, make sure that.

Fannie Mae’s sibling Freddie Mac, which was also rescued by the government during the recession, said Thursday that it would pay the Treasury a $4.5 billion dividend next month after its profit.

After Fannie Mae and Freddie Mac experienced massive losses resulting from the housing crisis, the U.S. Treasury injected $187.5 billion of capital into the failing institutions to keep them solvent. In exchange, the U.S. Treasury received high-yielding preferred stock as well as warrants that allowed the Treasury to claim nearly 80% ownership of the two mortgage giants.

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Between Fannie and Freddie, U.S. taxpayers have now made more than $63 billion in profits, including the $185 billion bailout. Fannie Mae’s most recent dividend payment was $2.87 billion in.

Freddie Mac would have now paid back its original 10% dividend (+ $740 million); Fannie Mae would have $5.74 billion left in liquidation preference to pay to Treasury. Fannie Mae and Freddie Mac have paid $137.1 billion and $88.0 billion, respectively, in dividends under the NWS – far more than $25.2 billion and $15.45 billion under 10% rate.

Fannie Mae said Friday that it will pay the U.S. Treasury a $5.5 billion dividend next month after its profit doubled in its latest quarter. The government-controlled mortgage company has already paid.

 · Washington-based Fannie Mae will pay a dividend of $3.1 billion to the U.S. Treasury next month if the company’s federal regulator agrees.. Fannie Mae posts $3.2B profit in 2Q; to pay.