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Fannie Mae Reports Huge Profit

HOUSING IS BACK

For second quarter.

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.

Read it at CBS News

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