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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.
