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Fannie Mae Posts $10 Billion Profit In Second Quarter

Thursday, August 08, 2013

Mortgage giant Fannie Mae announced Thursday that it made a $10 billion profit in the second quarter. Americans may remember that the government had to bail out Fannie Mae and Freddie Mac when the housing bubble burst five years ago. Now, with home prices rising, Fannie and Freddie are profitable again. That's good news for taxpayers, as well as home buyers who count on the two companies to guarantee and finance most home loans. But some investors in Fannie and Freddie are angry. They say they deserve a share of those new profits.

Source: NPR

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