Fannie Mae to pay back $59.4 billion to US Treasury department after record quarterly profits
The Federal National Mortgage Association, popularly known as Fannie Mae will be paying back $59.4 billion to the US Treasury as it reports record quarterly profits and hopes to capitalize on the loans it had received from the department during the housing crisis.
Fannie Mae, one of two mortgage companies operating under US conservatorship, said it will seek $7.8 billion in Treasury Department aid after reporting a third-quarter loss.