Posted by | May 9, 2012 14:52 | Filed under: Top Stories

Fannie Mae is out of the red.

Fannie said Wednesday that it earned net income attributable to common stockholders of $2.7 billion in the January-March quarter. Instead of seeking additional aid from taxpayers, the company will pay a dividend of $2.8 billion to the Treasury Department.

That compares with the same quarter one year ago when Fannie reported a net loss of $6.5 billion.

The company was able to report the gain mostly because it had lower expenses for its losses. Two key reasons for that: home price declines have slowed and fewer mortgages are in serious delinquency.

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Copyright 2012 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.