Fannie and Freddie seek to cut dividend on government stake: FT (Reuters)
(Reuters) – Mortgage companies Fannie Mae and Freddie Mac hit been lobbying the Treasury to accept a lower dividend on the preferred have issued during the government recognizance out, the Financial Times said, citing people familiar with the situation.
A dividend cut would earmark the digit mortgage giants to begin repaying $150 1000000000 in taxpayer aid, the sources told the news paper.
It would also pave the way for a restructuring of the companies by selection the amount of unpaid preferred have held by the Treasury, the FT said.
Fannie and Freddie declined to comment to the paper.
The companies were not immediately available for comment right lawful U.S. business hours.
(Reporting by Sakthi Prasad in Bangalore; Editing by Dhara Ranasinghe)
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