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HOUSING IS BACK

Fannie Mae Reports Huge Profit

In another sign of the strengthening housing market, mortgage giant Fannie Mae continued its string of profitable quarters by earning $10.1 billion in the second quarter. In addition, the company says it will pay $10.2 billion to the Treasury next month. During the financial crisis, Fannie Mae and Freddie Mac received $187 billion in loans from the federal government.

August 8, 2013 10:09 AM