Nov 09, 2012
Fannie, Freddie both turn big profits
09 Nov 2012
Posted by Andrew Kantor
Freddie Mac reported a net income of $2.9 billion in the third quarter, and will pay back $1.8 billion to the Treasury.
Fannie Mae reported a net income of $1.8 billion for the third quarter of this year, compared to a $5.1 billion loss in the third quarter of 2011.
Both companies still owe a sizeable amount to U.S. taxpayers, but both have been paying that back in recent months, thanks to continued profits and a rebounding housing market.