Fannie Mae earns $6.5 billion in 4Q; repaying U.S. bailout
Posted: February 21, 2014 at 11:51 a.m.
WASHINGTON — Fannie Mae posted net income of $6.5 billion from October through December, its eighth straight profitable quarter. Fannie will have repaid its full $116 billion government bailout after paying its fourth-quarter dividend.
Fannie Mae, the Federal National Mortgage Association, said its 2013 profit of $84 billion was boosted by rising home prices and an accounting move capitalizing on tax benefits it had accumulated from losses on mortgages during the financial crisis.
The quarterly profit compares with net income of $7.6 billion a year ago. Fannie Mae will pay a dividend of $7.2 billion to the U.S. Treasury next month.