Fannie and Freddie Should Be Able to Start Bailout Repayments by 2014
Mortgage News > Fannie and Freddie Should Be Able to Start Bailout Repayments by 2014
Fannie Mae and Freddie Mac were given considerable financial aid by the Federal Government after the collapse of the housing market on the grounds the two financial institutions would then pay 10 percent dividends on the government money they received.
Mortgage backing moguls Fannie Mae and Freddie Mac are in a better financial position than expected after a year of slowed foreclosures. The Federal Housing Finance Agency, or FHFA, which oversees both Fannie Mae and Freddie Mac stated Thursday that the both lenders “fared substantially better” than was forecast throughout the last year.
The slow in foreclosures reduced the projected losses for each and has now put them on track for initiating the return of the 10 percent dividends to taxpayers as soon as 2014.