WASHINGTON — There's an elephant in the room amidst discussions on how to unwind Fannie Mae and Freddie Mac — the two government-sponsored enterprises are now making money hand over fist.

The entities rebounded to profitability roughly two years ago, after being put in conservatorship in September 2008 near the start of the financial crisis. Indeed, the GSEs are coming close to having sent back funds equal to the amount of government aid they received.

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