Slider

Fannie and Freddie Repaying Taxpayers

Taxpayers may yet see a profit from the $187 billion bailout by the federal government of Fannie Mae and Freddie Mac in 2008. To date, Fannie Mae has seen $105 billion of the $116 billion it borrowed from Treasury repaid, including $10 billion from the most recent quarter. Of the $71 billion Freddie Mac received, as of Wednesday it has repaid $41 billion, and expects to earn $29 billion later this year. During the housing bubble years the two firms had become the main source of funding for home loans, and hardly anyone expected a payback, according to CNNMoney. The housing market improvement during the past year is the main reason for their return to profitability. As MHProNews has learned, the record low mortgage rates spurred refinancings, increasing the pairs’ fees.

(Photo credit: Jonathan Ernst/Yahoo!Reuters–Fannie Mae headquarters)

15585

Subscribe to the Documented #1

Most-Read - Professional Emailed Headline News

Delivered x2 weekly to your inbox. 

Manufactured Home "Industry News,

Tips, and Views Pros Can Use."   ©

 

Where "We Provide, You Decide."  ©

15856
mas kovach mhpronews shopping with soheyla .jp

Get our ‘read-hot’ industry-leading 

get our ‘read-hot’ industry-leading emailed headline news updates

Scroll to Top