News Summary: Fannie posts $1.8B net income in Q3

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News Summary: Fannie posts $1.8B net income in Q3

By The Associated Press

HOW FANNIE MAE DID: Mortgage giant Fannie Mae earned $1.8 billion from July through September, helped by an improving housing market that has lifted home prices.

NO MORE AID, THANKS: Fannie said it paid a dividend of $2.9 billion to the U.S. Treasury and requested no additional federal aid.

BIGGEST BAILOUT: Taxpayers have spent about $170 billion to rescue Fannie and smaller sibling Freddie Mac, the costliest bailout of the 2008 financial crisis.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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