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Fannie Mae posts $1.9B profit in 1Q; paying $1.8B to gov't

US mortgage giant Fannie Mae posts $1.9B in profit in 1Q; paying $1.8B dividend to government

Fannie Mae posts $1.9B profit in 1Q; paying $1.8B to gov't

Mortgage giant Fannie Mae says it had net income of $1.9 billion for the first quarter. That's sharply down from the same period a year ago due to lower fee income.

The results announced Thursday for the January-through-March period marked the 13th straight profitable quarter for the government-controlled company.

Washington-based Fannie also says it will pay a dividend of $1.8 billion to the U.S. Treasury next month. Fannie will have paid $134.6- billion in dividends, exceeding the $116 billion it received from taxpayers during the financial crisis.

The government rescued Fannie and smaller sibling Freddie Mac at the height of the crisis in September 2008.


Updated : 2021-09-17 12:04 GMT+08:00