Fannie Mae to Pay U.S. $2.9 Billion on Fourth-Quarter Profit
- Full-year net income fell to $11 billion from $14.2 billion
- CEO reiterates Watt's warning over future of housing finance
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Fannie Mae, the government-controlled mortgage company, will pay the U.S. Treasury Department $2.9 billion after reporting net income of $2.5 billion for the fourth quarter.
The company, which was placed under conservatorship along with smaller rival Freddie Mac during the 2008 financial crisis, will have returned $147.6 billion in dividends to the federal government, according to a regulatory filing Friday. Washington-based Fannie Mae has received $116.1 billion from the Treasury since 2008. The company reported a positive net worth of $4.1 billion as of Dec. 31.