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Fannie's Profits May Be Fleeting
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Carney breaks down Fannie Mae's 2013 earnings figures of $84 billion to show that this is due to unusual factors- such as low interest rates that it gets to access capital from the government, and the reversal of a write-down of deferred-tax assets. $45.4 billon is from the reversal of a writedown of deferred tax assets, $14.6 billion to gains not easily repeated, and about $12 billion because Fannie was able to borrow at 2.06%. (Mortgage securities generated interest income of $22.12 billion. The mortgage guarantee business generated about $12.3 billion which is a result of the 2012 change to the bailout agreement terms) He sees Fannie's core earnings that it could keep generating at about $12 billion. The additional reserve capital requirement that it would face as a systemically important or "too big to fail" financial institution at about $100 billion, making it about 8 years for it reach the reserve capital requirement. The situation at Fannie Mae is not as rosy as the 2013 earnings figures suggest.
Fannie Mae and Freddie Mac performance 2010-2015
05/10/2012
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Ackman Makes Big Bet on Fannie, Freddie
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Wall Street Journal 02/16/2011
An Accidental Housing Chief Embraces the Power of 'No'
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The total cost to US taxpayers for Fannie and Freddie.
01/12/2009
The total cost could be $658 billion, according to a Standard and Poor's estimate in late 2010. And prove very costly for taxpayers in the USA. The government put the agencies in conservatorship during the housing crisis of 2008.
Grouped Articles
New York Times 04/13/2013
Freddie's Profit Soars on Housing Rebound
Wall Street Journal 05/08/2013
Fannie Mae to pay $59.4B to Treasury - The Washington Post
Washington Post 05/09/2013
Fannie Chief: Payout Must Not Delay Revamp
Wall Street Journal 05/10/2013
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
White House Rejects Fannie-Freddie Recapitalization Plans
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Fannie and Freddie in 2012-2013
03/03/2014
Grouped Articles
Fannie's Profits May Be Fleeting
Wall Street Journal 03/03/2014
Fannie Mae and Freddie Mac pay back by end of 2013 $185 billion of the $186 billion aid from the U.S. government during the mortgage crisis
04/04/2013
Fannie Mae and Freddie Mac pay back in dividends to the U.S. government almost the full amount of aid provided during the housing crisis.
Grouped Articles
Fannie, Freddie Payments Nearly Match Aid
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White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
How Do You Solve a Problem Like Fannie?
Wall Street Journal 12/24/2013
Freddie Mac Reports $48.7 Billion 2013 Profit
Wall Street Journal 02/28/2014
Fannie's Profits May Be Fleeting
Wall Street Journal 03/03/2014
End of Housing Mae Day Yields Bumper Fannie Profit
Wall Street Journal 04/04/2013
Private investors investing in Fannie Mae and Freddie Mac in 2013
11/17/2013
Grouped Articles
Ackman Makes Big Bet on Fannie, Freddie
Wall Street Journal 11/17/2013
White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
Freddie Mac Reports $48.7 Billion 2013 Profit
Wall Street Journal 02/28/2014
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Wall Street Journal 03/03/2014
Plan for Mortgage Giants Takes Shape
Wall Street Journal 03/12/2014
Putting the Hit on Fannie, Freddie
Wall Street Journal 03/12/2014
The U.S. government's recovery of funds used to bailout insurers, banks, Fannie, Freddie, and auto companies
11/16/2010
The US government still has a ways to go to recover funds from the auto bailouts. AIG is still costly. Fannie and Freddie are an entirely different story, a debacle with huge additional funds needed.
Grouped Articles
Freddie's Profit Soars on Housing Rebound
Wall Street Journal 05/08/2013
Fannie Mae to pay $59.4B to Treasury - The Washington Post
Washington Post 05/09/2013
Fannie Chief: Payout Must Not Delay Revamp
Wall Street Journal 05/10/2013
Cost of Bailouts Continues to Decline
Wall Street Journal 05/10/2013
Fannie, Freddie Payments Nearly Match Aid
Wall Street Journal 11/08/2013
White House Rejects Fannie-Freddie Recapitalization Plans
Wall Street Journal 11/23/2013
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