Fannie Mae Pays Off Bailout

Posted $6.5 billion net income from October to December

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 that its profit was boosted by an accounting move that allowed the government-controlled mortgage giant to capitalize on tax benefits it had saved up from its losses on mortgages during the crisis.