STOCK MARKET WATCH -- Friday, 21 February 2014

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8. FANNIE EARNS $6.5B IN 4Q; REPAYING US BAILOUT

http://hosted.ap.org/dynamic/stories/U/US_EARNS_FANNIE_MAE?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT&CTIME=2014-02-21-08-31-41

WASHINGTON (AP) -- Fannie Mae posted net income of $6.5 billion from October through December, its eighth straight profitable quarter. Fannie will have repaid its full government bailout after paying its fourth-quarter dividend.

Fannie said Friday its 2013 profit of $84 billion was boosted by rising home prices and an accounting move capitalizing on tax benefits it had accumulated from losses on mortgages during the financial crisis.

The fourth-quarter profit compares with net income of $7.6 billion in the same period of 2012.

Fannie will pay a dividend of $7.2 billion to the U.S. Treasury next month. With its previous payments totaling about $114 billion, it will have more than fully repaid the $116 billion it received from taxpayers.