The mortgage-finance giant founded in 1938 is once again profitable following the 2008 housing market collapse and recession. While Fannie Mae survived the financial crisis thanks to American taxpayers, it has now repaid more than the original $116 billion it received from the U.S. Treasury. Though the financial institution, known officially as the Federal National Mortgage Association, is back in the black and revenues grew nearly 5% in 2017, shares have been dropping since January after Congress introduced a mortgage reform bill that could lead to more competition for Fannie Mae and Freddie Mac and cut their ties to the U.S. government.
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News about Fannie Mae
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