TAKEAWAYS ON FANNIE, FREDDIE EARNINGS Mortgage giants Fannie Mae and Freddie Mac are sending $10.2 billion to the U.S. Treasury after reporting combined first-quarter profits of $9.3 billion. But Thursday’s earnings reports hinted at a possible cooling off in the profits of both companies, which have benefited from large one-time gains over the past several quarters. They also suggested a modestly softer housing demand. Here are five takeaways: 8 MAY 2014 6:17PM BY NICK TIMIRAOS CONNECT 1 BIG ONE TIME GAINS Share on Twitter Fannie reported pre-tax income of $7.9 billion, of which $4.1 billion came in legal settlements that aren’t likely to be repeated. Freddie reported pre-tax income of $5.8 billion, with $4.9 billion in legal settlements. In recent quarters, the companies have also benefited from a big rebound in home prices. The rebound has allowed them to release reserves as expected losses failed to materialize and to re...
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