NEW YORK (CNNMoney.com) – Both Fannie Mae and Freddie Mac moved closer this past quarter toward paying back the $187 billion they received in bailout funds.
Fannie reported a $10 billion profit in the last quarter, bringing its total repayments to $105 billion. The agency had received $116 billion.
Freddie, which had received just over $71 billion in bailout funds, had a $5 billion profit. Its repayment amount will come to $41 billion.
“Recent positive results in earnings indicate that the two GSEs can perform in the market and not be a liability if they operate within definable limits of risk tolerance,” said Real Estate Center Research Economist Dr. Jim Gaines.