Freddie Mac clears profit for a second straight quarter

Freddie forked out a dividend of $1.8 billion to the Treasury.


The agency has not needed to borrow from the federal government in six months after requesting $19 million in the first three months of the year. 

For the first nine months of the year, Freddie Mac’s net income was $6.5 billion and its comprehensive income was $10.3 billion.

The profit compares with a $6 billion loss during the same period last year. 

During the financial crisis in 2008, Freddie and Fannie Mae, which hold about $5 trillion in mortgages, were taken under government control to avoid collapse, and have received upward of $190 billion in taxpayer funding. 

In an effort to pay back taxpayers, the agencies have to hand over their profits to the government.