HOUSING
FINANCE
Freddie Mac Profits Strong in Second Quarter
Freddie
Mac yesterday reported a $4.2 billion profit in the second quarter, up
significantly from the $1.4 billion the company earned in the second quarter of
2014 and marking Freddie’s 15th consecutive profitable quarter.
The rise in Freddie’s income was largely due to derivatives gains on rising
interest rates, which totaled $3.1 billion. The company said it will make a
$3.9 billion payment to the U.S. Treasury in September, bringing the total it
has returned to taxpayers since being bailed out in 2008 to $96.5 billion.
--ABA Daily Newsbytes
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