When Freddie makes that next “dividend” payment, its “account surplus” with Treasury will total $34.6 billion: federal assistance of $71.3 billion since September 2008 versus dividend payments of $105.9 billion.
Over the past two years, PHH has lost $347 million, much of it caused by a private-label origination model that has fallen on hard times and rapidly declining interest rates…
In a few weeks, almost all of that profit will be swept into the coffers of the U.S. Treasury, which supported the GSE during its money losing years...
Fed Chairman Janet Yellen on the future of Fannie and Freddie: “…I would hope that Congress would decide explicitly on what the government’s role is and if there are guarantees, that they would be recognized and priced appropriately.”