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August 24, 2014
Fannie, Freddie to pay Treasury $5.6B
Aug. 8, 2014 – Fannie Mae and Freddie Mac announced they generated $3.7 billion and $1.4 billion in net income in the second quarter and will pay a combined $5.6 billion to Treasury in September.
Both entities reported declines in income compared with the first quarter, when they won significant legal settlements related to private-label mortgage-backed securities.
The two housing-related government-sponsored enterprises have been in conservatorship since 2008. Lawmakers have discussed but not yet moved legislation that would address a wind-down of the entities or a revamp of the housing finance system. Even so, the current drafts are expected to provide a framework for future debate.
NAFCU is staying vigilant to ensure credit unions maintain access to the secondary mortgage market and retain fair pricing based on loan quality.
Both entities reported declines in income compared with the first quarter, when they won significant legal settlements related to private-label mortgage-backed securities.
The two housing-related government-sponsored enterprises have been in conservatorship since 2008. Lawmakers have discussed but not yet moved legislation that would address a wind-down of the entities or a revamp of the housing finance system. Even so, the current drafts are expected to provide a framework for future debate.
NAFCU is staying vigilant to ensure credit unions maintain access to the secondary mortgage market and retain fair pricing based on loan quality.
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