Fannie Mae, operating under a federal conservatorship, reached an agreement to sell about $2.6 billion in unused low-income housing tax credits to unidentified buyers and is waiting on the Treasury Department to approve the transaction.
The company entered an agreement prior to Sept. 30 to sell the credits at a premium, Washington-based Fannie Mae said in a filing Thursday with the Securities and Exchange Commission.
Fannie Mae's regulator, the Federal Housing Finance Agency, didn't object to the sale, the company said.
The Treasury Department hasn't given its approval yet, Fannie Mae said.
The Treasury is considering whether to allow Goldman Sachs Group Inc. to buy credits, which the bank could use to lower its tax bill.
Fannie Mae has accumulated about $5.2 billion in tax credits for investing in low-income housing, and has said in previous filings that it is "not currently recognizing a majority of the tax benefits associated with tax credits."
