Fannie, Freddie will hand over U.S. profits as expected: official
The headquarters of mortgage lender Freddie Mac is seen in Mclean, Virginia, near Washington, in this September 8, 2008 file photo. REUTERS/Jason Reed/Files
WASHINGTON Fannie Mae and Freddie Mac will transfer $10 billion in earnings to the U.S. Treasury in an expected move from the mortgage-finance giants, a spokesman for the regulator said on Thursday.
The payment, which is due on Friday, will be made as scheduled, said a spokeswoman for the Federal Housing Finance Agency.
Washington took control of Fannie and Freddie as the housing crisis worsened in September 2008. The companies have since grown profitable and lawmakers are debating about whether to cut government ties to the agencies that promote home ownership.
(Reporting By Patrick Rucker; Editing by Chizu Nomiyama)