GSE Earnings Soar During Second Quarter, Freddie Opts To Wait on its Deferred Tax Asset Claim Until Later in 2013
August 9, 2013
Fannie Mae and Freddie Mac this week reported a combined $15.1 billion in net income during the second quarter of 2013, as the two government-sponsored enterprises came closer to having paid the government as much in dividends as they have taken in bailout funds. Fannie reported $10.1 billion in net income, the company’s sixth consecutive quarterly profit. During the first quarter, Fannie posted $58.7 billion in net income, boosted by its release of $50.6 billion in deferred tax assets. Under the revised conservatorship arrangement, any GSE net worth exceeding $3.0 billion is forked...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.