Freddie Mac, Fannie Mae close to making good on stimulus loans
Friday, November 08, 2013 10:44 AM
Freddie Mac said it would make a $30.4 billion dividend payment to the U.S. Treasury by the end of this year, and Fannie Mae said it would pay $8.6 billion in dividends, leaving the companies very close to making taxpayers whole on their large investments in the companies since they were taken over by the government five years ago, The Wall Street Journal reported. After making the latest dividend payment, Freddie will have paid around $9 million more in dividends to the government than the $71.3 billion investment it received as a result of its 2008 bailout. Fannie and Freddie received cash infusions of nearly $188 billion from the Treasury under the terms of those bailout agreements, and they will have sent more than $185 billion in dividend payments to the Treasury by year's end.