WASHINGTON (AP) — Fannie Mae is reporting net income of $3.7 billion from April through June as the housing market continued to recover.
Though the government-controlled mortgage giant reported its 10th straight profitable quarter Thursday, the second-quarter profit was down 63 percent from $10.1 billion a year earlier.
Washington-based Fannie also said it will pay a dividend of $3.7 billion to the U.S. Treasury next month. With its previous payments totaling $126.7 billion, Fannie has more than fully repaid the $116 billion it received from taxpayers.
The government rescued Fannie and smaller sibling Freddie Mac at the height of the financial crisis.
Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.