News Summary: Fannie posts $2.2B net income in 2Q
FANNIE MAKES MONEY: Mortgage giant Fannie Mae reported it earned $2.2 billion from April through June, its second quarterly gain in net income since being taken over by the government during the 2008 financial crisis.
HIGHER HOME PRICES: Fannie attributed the gain to improving home prices and fewer mortgage delinquencies. The company said it paid a dividend of $2.9 billion to the Treasury Department and sought no additional federal aid for the quarter.
BIG BAILOUT: Taxpayers have spent about $170 billion to rescue Fannie and smaller sibling Freddie Mac, which veered toward collapse in 2008 after piling up massive losses on risky mortgages.