News Summary: Freddie posts $2.9B net income in Q3

  • Article by: The Associated Press
  • Associated Press
  • November 6, 2012 - 12:00 PM

FREDDIE EARNS: Mortgage giant Freddie Mac earned $2.9 billion from July through September, its fourth straight profitable quarter. The government-controlled company attributed the gain to rising home prices and fewer mortgage delinquencies.

PAYS DIVIDEND: Freddie said it paid a dividend of $1.8 billion to the U.S. Treasury and requested no additional federal aid.

BIG BAILOUT: Taxpayers have spent about $170 billion to rescue them, the costliest bailout of the 2008 financial crisis.

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