WASHINGTON – Mortgage giant Fannie Mae reported net income of $3.2 billion from July through September, up from $2 billion a year earlier, as its losses declined on investments it uses to hedge against interest rate swings.
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The third-quarter results released Thursday marked the 19th straight profitable quarter for the government-controlled company.
Washington-based Fannie Mae said it will pay a dividend of $3 billion to the U.S. Treasury next month. With that payment, Fannie will have paid a total $154.4 billion in dividends.
Fannie received $116 billion from taxpayers when the financial crisis struck in September 2008. The government rescued Fannie and smaller sibling Freddie Mac after they suffered huge losses from risky mortgages in housing market bust.