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Treasury makes changes at Fannie, Freddie

Friday, August 17, 2012

WN.com - Business News
Latest headlines from WN Network
Treasury makes changes at Fannie, Freddie
Aug 18th 2012, 02:08

The U.S. Treasury Department is altering how Fannie Mae and Freddie Mac pay taxpayers for the government’s stake in the firms, ending a system that sometimes required them to spend more on dividends than they earned. The mortgage companies, which have drawn $190 billion in aid and paid $46 billion in dividends since being taken over by U.S. regulators in 2008, will turn over any quarterly profits to the Treasury, the agency said Friday. The change replaces a requirement that...
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