Fannie Mae, Freddie Mac On Track To Pay Off US Bailout

Fannie Mae / Federal National Mortgage Association (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC)  are well on their way to repaying U.S. taxpayers, who will probably earn a fair profit on the bailouts given to the two mortgage finance firms. The recent housing recovery has made both firms highly profitable, and for the time being those profits are being funneled into Treasury, writes Chris Isidore at CNN Money (who also does some of the math). Fannie Mae and Freddie Mac received a combined $187 billion bailout in September 2008 as part of the government’s overall response to the fiscal…