Two major US companies Freddie Mac and Fannie Mae, who are known as giants in the mortgage & finance sector, is in good financial position at present and the Treasury Department has asked them for providing aid of $3.1 billion.

Both the companies Freddie Mac and Fannie Mae suffered major financial setback during the recession which had shaken the world economy in the year 2008. That time whole financial scenario in the US was changed.

To combat such situation, many policies and strategies were introduced and implemented following which the Treasury Department took the regulatory charge of the two finance companies and put them under U. S. conservatorship. Treasury Department owns More than 79% of these companies.

Now these two are sponsored by the US Government. And this is the main reason that more than 50% of the mortgage projects are owned by them. Mortgages which are directly not own by these two; in that case they become the guarantors.

According to a recently reveled report of the treasury department, these two companies are improving constantly as far the dividend payout is concerned. And this report also shows that Fannie Mae made net income of $73 million during first quarter. This is first time in last three years that the company has made profits. On the other hand Freddie Mac also managed to reduce its loss from $6.5 billion to $113 million.