Fannie Mae-No Politics (FNMA)

[Dallas66]

Fannie to sell HQ.

http://blogs.wsj.com/moneybeat/2014/08/27/fannie-mae-to-sell-headquarters/

Fannie Mae FNMA +2.34% officials told employees on Wednesday that the company plans to sell its mansion-like headquarters in Washington, D.C., as part of a consolidation of its five, D.C.-area offices into a single, leased office building. The company hasn’t yet decided on a new location but prefers that it be in downtown D.C., said a company spokesperson. The move would happen within the next two to three years, she said.

The spokesperson said that the move is in preparation of the expiration of the leases on two of its D.C. offices. The company has also lately had to deal with aging infrastructure in some locations, including at the main building, she said.

“We are focused on making responsible real estate decisions to ensure the wise use of resources, the safety and soundness of operations, and flexibility to adapt to changes in our future workplace needs,” the spokesperson wrote in a statement.

The Wall Street Journal, and many other news organizations, have long relied on photos of Fannie Mae’s iconic headquarters, located at 3900 Wisconsin Ave., with its picturesque facade and landscaping, to illustrate stories on the mortgage-finance giant.

Fannie Mae and McLean, Va.-based Freddie Mac don’t make mortgages, but buy loans from lenders, package them into securities and provide guarantees to make investors whole in case of default. The companies were placed into conservatorship in 2008 and received $188 billion in government aid. After a September dividend payment, the companies will have paid $218.7 billion to the U.S. Treasury.