News Summary: Freddie posts $4.6B net income in Q1

News Summary: Freddie Mac earns $4.6B net income for Q1; pays Treasury $7B dividend

Associated Press

FREDDIE EARNS: Mortgage giant Freddie Mac earned $4.6 billion from January through March, helped by a stronger housing market. The government-controlled company has turned a profit in the past six quarters.

WILL PAY DIVIDEND: Freddie said it will pay a dividend of $7 billion to the U.S. Treasury next month and requested no additional federal aid for the fourth straight quarter.

BIG BAILOUT: The government rescued Freddie and larger sibling Fannie Mae during the financial crisis after both incurred massive losses on risky mortgages. The companies received loans about $170 billion. So far, they have repaid a combined $62.2 billion.


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