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Fannie Mae Will Pay Treasury $919 Million After Reporting Profit

  • Mortgage giant had net income of $1.1 billion in first quarter
  • CEO says firm expects to be profitable for foreseeable future

Fannie Mae will make a $919 million dividend payment to the U.S. Treasury Department after reporting a first-quarter profit driven by fees for guaranteeing loans against default and credit-related income.

The U.S.-owned mortgage-finance giant had net income of $1.1 billion for the three-month period that ended March 31 compared with $2.5 billion a quarter earlier, according to a regulatory filing posted Thursday. The company’s net worth stood at $2.1 billion, above the threshold for making dividend payments under its U.S. conservatorship agreement.