NEW YORK (AP) — Freddie Mac says it will pay the U.S. Treasury a dividend of $4.5 billion next month after its profit more than doubled in the last quarter.
The government-controlled mortgage company has paid the Treasury more than $101 billion in dividends since receiving $71.3 billion in bailouts from the government between 2008 and 2012.
Freddie Mac buys mortgages from lenders, packages them into bonds, guarantees them against default and sells them to investors. It does not make loans to homebuyers directly.
The company reported net income of $4.85 billion in its fourth quarter, compared with $2.16 billion in the same period a year before.For 2016, it reported net income of $7.82 billion, up from $6.38 billion in 2015.
- Posted February 21, 2017
- Tweet This | Share on Facebook
Freddie Mac to pay Treasury $4.5B after profit doubles
headlines Macomb
- Macomb County judge honored
- Mount Clemens woman pleads no contest to charge stemming from threats sent to Mount Clemens mayor
- MDHHS seeks applications for Rural Health Transformation Program Workforce for Wellness Initiative
- Prosecutor warns of fake jail bond scam targeting families
- Governor welcomes new unemployment protections for survivors of domestic violence
headlines National
- Chemerinsky: Supreme Court leaves many Second Amendment issues unresolved
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- After emergencies mar bar exam, New York State Bar Association aims to add new procedures
- When you get blasted by your own canon
- Ex-lawyer seeks bar reinstatement after US House primary win
- Trump selects newly confirmed federal judge for open seat on 5th Circuit
