Fannie Mae posts $2B profit for 3Q; paying $2.2B dividend

FILE - This Aug. 8, 2011 file photo shows the front of the Fannie Mae headquarters in Washington. The mortgage giant reported net income of $2 billion from July through September, 2015 down from $3.9 billion a year earlier. The results posted Thursday, Nov. 5, 2015 marked the 15th straight profitable quarter for Washington-based Fannie Mae. (AP Photo/Manuel Balce Ceneta, File) FILE - This Aug. 8, 2011 file photo shows the front of the Fannie Mae headquarters in Washington. The mortgage giant reported net income of $2 billion from July through September, 2015 down from $3.9 billion a year earlier. The results posted Thursday, Nov. 5, 2015 marked the 15th straight profitable quarter for Washington-based Fannie Mae. (AP Photo/Manuel Balce Ceneta, File)

By Associated Press November 5, 2015 4 min read

WASHINGTON (AP) – Mortgage giant Fannie Mae reported net income of $2 billion for the July-September period, down from $3.9 billion a year earlier.

The government-controlled company attributed the third-quarter decline in profit mainly to losses on the investments it uses to hedge against swings in interest rates.

Nonetheless, the results posted Thursday marked the 15th straight profitable quarter for Washington-based Fannie Mae.

Fannie said it will pay a dividend of $2.2 billion to the U.S. Treasury next month. With that payment, Fannie will have paid a total $144.8 billion in dividends.

Fannie received $116 billion from taxpayers during the financial crisis in September 2008. The government rescued Fannie and smaller sibling Freddie Mac after they suffered huge losses from risky mortgages in the housing market bust.