Fannie, Freddie Report $15B Combined Quarterly Profit

Law360, New York (August 8, 2013, 5:48 PM EDT) -- U.S. government-backed housing giants Fannie Mae and Freddie Mac reported a combined $15.1 billion profit in the second quarter of 2013 on Thursday and will return more than $14 billion to taxpayers amid growing bipartisan calls to shut down the mortgage lenders.

Fannie Mae reported a $10.1 billion profit for the second quarter, thanks in large part to the continuing rise in U.S. home prices. That is nearly double the $5.1 billion profit posted by the lending giant in the second quarter of 2012, and its...
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