Fannie, Freddie Win Approval to Keep More Profits

The Treasury Department and the Federal Housing Finance Agency have agreed to allow Fannie Mae and Freddie Mac to retain billions of dollars in earnings. So reports MarketWatch.

The government-controlled mortgage guarantors had previously been required to deliver all of their profits, except a narrow $3 billion capital buffer apiece, to the Treasury.

As part of a Trump administration plan to return the companies to the private sector, Fannie will now be permitted to keep $25 billion and Freddie $20 billion.

Read the full article from MarketWatch.

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