Fannie Mae Reports Biggest Quarterly Profit In Its History

WASHINGTON (April 2, 2013)--Mortgage giant Fannie Mae earned $7.6 billion from October through December, the biggest quarterly profit in its history.

The gain was driven by an improving housing market that lifted home prices and a $3.6 billion legal settlement with Bank of America.

The government-controlled company sought no additional federal aid.

For all of 2012, Fannie says it earned $17.2 billion and paid dividends of $11.6 billion to the U.S. Treasury.

The company said it expects to remain profitable "for the foreseeable future."

Taxpayers spent $116 billion to rescue Fannie during the financial crisis.

So far the company has paid back $35.6 billion.

KWTX-TV News 10 6700 American Plaza Waco, Texas 76712 (254) 776-1330 Fax (254) 751-1088
Copyright © 2002-2016 - Designed by Gray Digital Media - Powered by Clickability 201068651 -
Gray Television, Inc.