Fannie Mae posts $2.2B net gain for Q2

Fannie Mae earned $2.2 billion from April through June, its second quarterly gain in net income since it was taken over by the government during the 2008 financial crisis.

The mortgage giant says it is paying $2.9 billion to the Treasury Department, its second straight quarterly dividend.

Its net income attributable to common shareholders was 37 cents per share in the second quarter. That compares with a net loss of $5.2 billion, or 90 cents per share, in the same period last year.

Fannie and smaller sibling Freddie Mac were taken over by the government after massive losses on risky mortgages threatened to topple them.

Fannie has received about $116 billion so far from the Treasury Department.