Freddie Mac Reports First Annual Profit Since 2006
Freddie Mac earned $4.5 billion in the fourth quarter to finish 2012 with total net income of $11 billion, its first annual profit since 2006, the company reported last week. Officials added that Freddie requested no assistance from the Treasury Department during the fourth quarter, and paid back the agency $7 billion last year.
Overall, Freddie has paid back $23.8 billion -- about one-third of the total taxpayer funds it has received since entering government conservatorship in 2008.
--ABA Daily Newsbytes
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