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Author
The Associated Press
Date
August 7, 2013

News Summary: Freddie Mac earns $5B in Q2

FREDDIE PROFIT: Freddie Mac earned $5 billion from April through June, the seventh straight profitable quarter for the government-controlled mortgage giant.

PAYING DIVIDEND: Freddie said it will pay a dividend of $4.4 billion to the U.S. Treasury next month and is requesting no additional aid.

BAILED OUT, NOW PROFITABLE: The government rescued Freddie and larger sibling Fannie Mae during the financial crisis in 2008. Together, they received loans of about $187 billion. A housing recovery that began last year has made both companies profitable again. They have paid back roughly $136 billion of their government loans.

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