Login

Register | Forgot Your Password? | Close
Register | Forgot Your Password? | Close

(AP) - RECORD PROFIT: Mortgage giant Fannie Mae earned a record $58.7 billion from January through March, helped by a stronger housing market and a one-time tax maneuver.

TAX MOVE HELPS: Nearly $51 billion of the first-quarter profit came in part from tax credits it had saved from its losses on delinquent loans suffered during the crisis. The company also reported earning roughly $8 billion before taxes, largely because of the housing recovery.

PAYING DIVIDEND: Fannie said it will pay a dividend of $59.4 billion to the U.S. Treasury next month. Once that's paid, Fannie will have repaid $95 billion of the roughly $116 billion it received during the financial crisis.


(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
share this story:
Attention KTAR.com Comment Users: We have recently changed our comments boards.
We would like you to be part of the conversation and The Voice of Arizona by logging in with your Facebook, Twitter, Google+ or Disqus account. Existing KTAR (Arizona Sports) account members will need to create a Disqus account or use one of the aforementioned social media logins. Thank you.
comments powered by Disqus
close

Share: