NEW YORK (AP) — Freddie Mac, the government-controlled mortgage company, said its net income jumped in the fourth quarter on higher interest rates.
It also said last Thursday that it will pay a dividend to the U.S. Department of Treasury of $1.7 billion next month.
Freddie Mac has paid more than $96 billion in dividends to the Treasury since 2008, surpassing the $71.3 billion in bailouts it received from the government between 2008 and 2012.
Freddie Mac doesn’t make loans to homebuyers. Instead, it buys mortgages from lenders, packages them into bonds, guarantees them against default and sells them to investors.
Freddie Mac reported net income of $2.2 billion in the quarter ending Dec. 31, compared with $227 million in the same period the year before.
- Posted February 23, 2016
- Tweet This | Share on Facebook
Freddie Mac profit rises on higher interest rates
headlines Macomb
- New leadership team takes helm at State Bar
- Four weeks before Election Day, mail ballot returns are up 30% over same point in 2022
- Belleville woman arraigned in connection with alleged arson, felonious assault
- Warren man pleads No Contest to Felonious Assault and dog stabbing
- Woman sentenced for mortgage fraud, filing a false $374,000 tax refund return
headlines National
- Melissa Hart, the chair of the ABA Legal Ed council, dies
- Judge suspended after indictment over alleged perjury
- Bill Withers’ music publisher files copyright suit over Olivia Dean’s ‘I’ve Seen It’
- Judge reinstates US attorney in Washington fired by Trump
- Interim law dean of University of Florida named to permanent role
- Clio acquires Learned Hand, an AI company for courts, judges
