WASHINGTON–Fannie Mae and Freddie Mac, which continue to be operated under federal government control, will pay $10 billion in dividends to the government, according to figures released for the fourth quarter.
The Federal National Mortgage Association, or Fannie Mae, reported a $5-billion profit in the fourth quarter, the result of which will be a $5.5-billion dividend payment to the U.S. Treasury in March.
In addition, the Federal Home Loan Mortgage Corp., or Freddie Mac, reported a $4.8-billion fourth quarter profit and a dividend of $4.5 billion, which will also go to the federal government.
Both companies have been operating under government conservatorship since the 2008-2009 financial crisis, but shareholders have been fighting to remove the companies from government control.
New Treasury Secretary Steven Mnuchin has said he favors and overhaul of both companies and a return to private ownership.
With the $10 billion, the collective total for Fannie Mae and Freddie Mac sent to the U.S. Treasury is $265 billion—or $78 billion more than the $187 billion provided by Treasury during the financial crisis.