Fannie Mae said it expects to make a $2.8 billion dividend payment to the U.S. Treasury in June after reporting a first-quarter profit driven by a relatively stable mortgage market and a continued decline in delinquencies.
The payment will come after the mortgage-finance giant reported net income of $2.8 billion for the first quarter, according to its earnings release on Friday. The profit was an increase from the $1.1 billion the Washington-based company posted a year ago, but a significant decline from the $5 billion it reported for the fourth quarter of 2016.
