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Fannie Mae to pay Treasury $5.7 billion on quarterly profit

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[May 08, 2014]  WASHINGTON (Reuters)   Government-controlled mortgage finance firm Fannie Mae said on Thursday it would send the U.S. Treasury a dividend of $5.7 billion after posting a ninth straight quarterly profit.

Once it has made the latest payment in June, it will have returned $126.8 billion to taxpayers in return for the $116.1 billion in taxpayer aid it received after being placed under the government's wing at the height of the financial crisis.

The company, the nation's largest source of mortgage funds, earned a net income of $5.3 billion during the first three months of the year. It cited revenue from litigation related to private-label securities and fees they charge lenders to guarantee loans for the performance.

(Reporting By Margaret Chadbourn Editing by W Simon)

[ 2014 Thomson Reuters. All rights reserved.]

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