V*****2
发帖数: 7930 | 1 Federal National Mortgage Association : Fannie Will Make $59.4 Billion
Payment to U.S.
By Nick Timiraos
Fannie Mae said Thursday that it would make a $59.4 billion payment to the U
.S. Treasury next month after reporting a $58.7 billion first-quarter profit
thanks to a big tax benefit the bailed-out mortgage-finance company booked
after determining it would generate profits in the coming years.
Fannie recognized $50.6 billion in tax benefits during the first quarter, in
addition to pretax income of $8.1 billion during the period. That compared
with a $2.7 billion gain during the year-earlier period.
"I'm pleased to say that we'll be sending a lot of money to the taxpayers,"
said Fannie Chief Executive Timothy Mayopoulos in a speech to an industry
group on Thursday morning.
The government took over Fannie and its smaller sibling, Freddie Mac, nearly
five years ago and agreed to inject vast sums to keep the firms afloat in
order to stave off a deep freeze in U.S. mortgage markets. In exchange, the
government took senior preferred shares in the companies that paid a
dividend of 10% until this year, when nearly all of the firms' profits are
swept away as a dividend payment.
Fannie's expected payment of $59.4 billion to the U.S. Treasury will bring
to $95 billion the amount of dividends it has paid to the Treasury. It has
received $116.1 billion in aid, leaving the net cost of its bailout at
around $21.1 billion. Freddie said on Wednesday that it would pay $7 billion
in dividends by next month, bringing its total dividends paid to $36.6
billion. It has received $71.3 billion in aid, leaving its net cost at $34.7
billion.
Taken together, the cost of the government rescues will be cut in half next
month, to around $60 billion, from $120 billion at the end of March. "This
is obviously very good news for all of us as taxpayers," Mr. Mayopoulos said
.
But the terms of the government's support of Fannie and Freddie don't
actually provide a mechanism for the firms to redeem the government's shares
in the firms. In that sense, Fannie and Freddie are simply making payments
on a loan that can't ever be paid off.
If the profits of recent periods are sustained, Fannie could return more
money to the Treasury than it has borrowed in less than a year.
Mr. Mayopoulos said he was concerned that Fannie's return to profitability--
even without the tax boost, the first-quarter pre-tax income was its largest
quarterly profit ever and marked the fifth straight quarterly profit for
Fannie--might induce policy makers to shirk from taking any action soon to
determine the future of the company and the nation's broader $10 trillion
mortgage market. "The payment of these dividends is not putting private
capital in front of the government's current backing of the market," he said
.
Fannie's tax boost stemmed from reversing write-downs of its deferred-tax
assets, which are unused tax credits and deductions that can offset future
tax bills but which are worthless if a company isn't expected to turn a
profit and have taxable income.
The mortgage-finance company began writing down the tax benefits in 2008 as
rising mortgage defaults threatened to wipe out thin capital reserves. Some
assets had also counted toward the company's capital, further squeezing the
company as the financial crisis deepened.
The turnaround at Fannie is the latest sign of how a broad housing-market
rebound has lifted the financial sector, the broader economy and the firms'
fortunes.
Fannie reclaimed the deferred-tax assets during the first quarter because
the company concluded it is likely to be profitable for the foreseeable
future. Fannie reported annual losses of $58.7 billion in 2008 and $72
billion in 2009. Last year, by contrast, it reported a $17.2 billion profit,
the company's first since 2006.
Write to Nick Timiraos at N***********[email protected] |
V*****2
发帖数: 7930 | 2 到下个月，FNMA将付清一半联邦央行的债务，还剩600亿债务。还债速度比我预计的速
度快多了。 |
O**l
发帖数: 12923 | 3 两房十几万亿的资产 房价几个百分点 100b 轻飘飘的 |
V*****2
发帖数: 7930 | 4 我最近天天喊二房，也不知有谁跟进了没有？发财的给我发个包子？ |
d*******y
发帖数: 32 | 5 扑腾了好几次了,不知道还要不要扑腾,小心为妙.
【在 V*****2 的大作中提到】
: 我最近天天喊二房，也不知有谁跟进了没有？发财的给我发个包子？
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V*****2
发帖数: 7930 | 6 现在价格是有点高，我是指前几天买的。
【在 d*******y 的大作中提到】
: 扑腾了好几次了,不知道还要不要扑腾,小心为妙.
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e*******r
发帖数: 1601 | 7 上周五0.9@买的，要不要出？我可不能给你包子，这个是俺自己开发的。记得买的时候
我还吼了一嗓子。 |
V*****2
发帖数: 7930 | 8 反正我是准备捂着放个几年。大牛一个星期就挣这么多，跑进跑出的事，大牛比我清楚
多了。现在纯粹无聊在灌水。
【在 e*******r 的大作中提到】
: 上周五0.9@买的，要不要出？我可不能给你包子，这个是俺自己开发的。记得买的时候
: 我还吼了一嗓子。
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a*****e
发帖数: 16445 | 9 捂得好奏是六七倍或更多
【在 V*****2 的大作中提到】
: 反正我是准备捂着放个几年。大牛一个星期就挣这么多，跑进跑出的事，大牛比我清楚
: 多了。现在纯粹无聊在灌水。
|
e*******r
发帖数: 1601 | 10 如果有人三个月以前进的现在已经差不多六七倍了。。。
【在 a*****e 的大作中提到】
: 捂得好奏是六七倍或更多
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e*******r
发帖数: 1601 | 11 你才是大牛，你们全家都是大牛！
//一块灌哈。。。
【在 V*****2 的大作中提到】
: 反正我是准备捂着放个几年。大牛一个星期就挣这么多，跑进跑出的事，大牛比我清楚
: 多了。现在纯粹无聊在灌水。
|
V*****2
发帖数: 7930 | 12 我还只是小蝌蚪，青蛙都不是，就不用您抬举了。
【在 e*******r 的大作中提到】
: 你才是大牛，你们全家都是大牛！
: //一块灌哈。。。
|
D***o
发帖数: 54 | 13 一旦真的活了，股价到正常时（60刀以上），可以考虑退休了。
梦还是有可能变现实的。 |
s****8
发帖数: 2537 | 14 羡慕。看来现在买也不迟。
【在 D***o 的大作中提到】
: 一旦真的活了，股价到正常时（60刀以上），可以考虑退休了。
: 梦还是有可能变现实的。
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V*****2
发帖数: 7930 | 15 短期今天这价格已经蛮高的了，还是得小心点。
【在 s****8 的大作中提到】
: 羡慕。看来现在买也不迟。
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e*******r
发帖数: 1601 | 16 要是能突破1.47并且站稳就好了。。。
【在 V*****2 的大作中提到】
: 短期今天这价格已经蛮高的了，还是得小心点。
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