Fannie and Freddie Are on the Mend. It’s Time to Fix Themby
Followers of the American housing catastrophe were greeted with encouraging news this week. Fannie Mae, the government-owned mortgage-finance company, reported a $2.7 billion first-quarter profit. For the first time since its 2008 government seizure, it didn’t need to tap the U.S. Treasury, even after paying a huge dividend. Freddie Mac, Fannie’s sibling, similarly reported a profit but needed a small infusion of capital after paying the U.S. a dividend.
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