Fannie Mae Posts Record Profit; Paid Taxpayers $11.6 Billion In 2012

In another sign that the housing market is not only on the mend but gaining momentum, Fannie Mae announced that it earned "a record $7.6 billion in fourth-quarter 2012 and $17.2 billion for the year," NPR reported earlier today. This is quite a turn around from September 2008 when the federal government bailed out the mortgage giant to the tune of $116 billion. Fannie Mae has paid back $36 billion of the $116 billion it received in the bailout, according to The Christian Science Monitor. The profit in 2012 -- the highest profit ever -- is a clear signal of a housing-market recovery that is raising hopes that taxpayers will recover billions of dollars in bailout funds from the company, the Monitor reports.
 

As always, please contact me, Mynor Herrera, for expert advice on everything real estate. I am licensed in Washington, D.C., Maryland, and Virginia. And I specialize in Bethesda and Chevy Chase, as well as the subdivisions of Rosemary Hills, Rock Creek Forest, East Bethesda and Whitehall Condominium.