Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  OTC Bulletin Board  >  Federal National Mortgage Assctn Fnni Me    FNMA

SummaryChartsNewsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Federal National Mortgage Association : Freddie Mac to cut $30.4 billion check to U.S. taxpayers

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/07/2013 | 03:35pm CEST

Government-controlled mortgage firm Freddie Mac (>> Federal Home Loan Mortgage Corp) said on Thursday it will pay $30.4 billion (18.9 billion pounds) in dividends to the U.S. Treasury after a multibillion-dollar tax-related windfall fuelled a record profit in the third quarter.

Government-controlled mortgage firm Freddie Mac (>> Federal Home Loan Mortgage Corp) said on Thursday it will pay $30.4 billion (18.9 billion pounds) in dividends to the U.S. Treasury after a multibillion-dollar tax-related windfall fuelled a record profit in the third quarter.

The report from Freddie Mac, which recorded pre-tax income of $6.5 billion, came on the same day its larger sibling and fellow state ward Fannie Mae said it would be making an $8.6 billion dividend payment to the government.

Fannie Mae (>> Federal National Mortgage Association) said rising home prices helped push its net income to $8.7 billion for three-month period that ended September 30.

Taking into account a decision to write up nearly $24 billion in tax-related assets, Freddie Mac's net income for the period was $30.5 billion.

The latest payments to the U.S. Treasury from the two government-controlled companies will nearly erase the net cost of their $187.5 billion taxpayer-funded bailout. In return for the aid, the companies are required to sweep most of their profits into the Treasury.

When Freddie Mac makes its dividend payment in December, it will have returned all of the $71.3 billion it received in taxpayer aid, and an additional $9 million.

Fannie has received $116.1 billion from the Treasury, and it will have sent $113.9 billion in dividend payments to the Treasury by December.

By early 2014, taxpayers likely will have turned a profit on the bailout of the two housing finance giants, which own or guarantee about two-thirds of all U.S. home loans.

But under their bailout terms, their debt to taxpayers cannot be repaid and they will continue to make dividend payments as long as they are profitable.

(Reporting by Margaret Chadbourn; Editing by Andrea Ricci)

By Margaret Chadbourn

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on FEDERAL NATIONAL MORTGAGE
07/22 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : FHA says it will approve mortgages with e..
07/19 FEDERAL HOME LOAN MORTGAGE : Freddie Drives GSE Refis to 10-Month High
07/15 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Fannie Mae announces winners of non-perfo..
07/15 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Fannie Mae Prices $913.6 Million Multifam..
07/14 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Fannie Mae Announces Winners of its Lates..
07/12 EXTRA CREDIT : Paying more than due helps mortgage approval
07/07 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Corker, Colleagues Warn Watt Against Taki..
07/07 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Progress Made On GSE Single Security
07/07 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : Statement on Single Security Update from ..
07/07 FEDERAL NATIONAL MORTGAGE ASSCTN FNN : News Release - Home Purchase Sentiment In..
More news
Sector news : Retail & Mortgage Banks
07/23DJFuel Glut Keeps Pressure on Refiners' Profit
07/23DJBanks' Profit Margins Fall -- WSJ
07/22DJFosun Group Insurance Unit Files for IPO in U.S.
07/22 Exclusive - De Beers puts Canadian Snap Lake diamond mine up for sale
07/22DJPayPal Shares Slide on Visa Deal
More sector news : Retail & Mortgage Banks
News from SeekingAlpha
02/22 WALL STREET BREAKFAST : Sterling Dives On Brexit Jitters
02/21 Fannie Mae at risk of needing a bailout
02/19 Fannie Mae's (FNMA) CEO Tim Mayopoulos on Q4 2015 Results - Earnings Call Tra..
02/19 The FHFA Conservator Provides Evidence For The Perry Appeal
02/19 Fannie Mae to dividend Treasury another $2.9B
Advertisement
Financials ($)
Sales 2016 19 111 M
EBIT 2016 -
Net income 2016 -
Debt 2016 -
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
Capi. / Sales 2016 0,12x
Capi. / Sales 2017 0,12x
Capitalization 2 281 M
More Financials
Chart FEDERAL NATIONAL MORTGAGE
Duration : Period :
Federal National Mortgage  Technical Analysis Chart | FNMA | US3135861090 | 4-Traders
Full-screen chart
Income Statement Evolution
More Financials
Consensus 
Mean consensus UNDERPERFORM
Number of Analysts 1
Average target price 1,00 $
Spread / Average Target -49%
Consensus details
Managers
NameTitle
Timothy J. Mayopoulos President, Chief Executive Officer & Director
Egbert L. J. Perry Non-Executive Chairman
Bruce Lee Senior Vice President-Operations & Technology
David C. Benson Chief Financial Officer & Executive Vice President
Brenda J. Gaines Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
FEDERAL NATIONAL MORTG..-10.98%2 281
HOUSING DEVELOPMENT FI..5.12%31 951
FIRSTRAND LIMITED14.68%19 139
BARCLAYS AFRICA GROUP ..7.82%8 932
CAPITEC BANK HOLDINGS ..15.74%4 960
PEOPLE'S UNITED FINANC..-4.52%4 793
More Results