Jonathan Ernst / Reuters
A general view of Fannie Mae headquarters in Washington March 30, 2012.
Something happened in the first quarter on State mortgage giant Fannie Mae (FNMA), which has not happened since 2008: it not matters, a taxpayer handout.
Fannie Mae reports a $2.7-billion first-quarter profit Wednesday, compared to a net loss in the same quarter of last year of $6.5 billion. Total of the $ 3.1 billion company was enough pay for Fannie Mae of the Government its share of the mortgage bank first quarter dividend of $2.8 billion.
Fannie Mae has to help over water to taxpayers since the third quarter of 2008, when the Government of Fannie Mae and its sister company Freddie Mac in the midst of the financial crisis took over.
"The significant improvement in the company's 2012 was financial results in the first quarter primarily due to lower credit-related costs, a less significant decrease which was home prices, a decline in the company's on House property ("REO") properties coupled with improved selling prices and lower House Ernst delinquencies, REO," Fannie Mae said in a statement.
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