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Freddie Mac to pay $1.9 bln to U.S. Treasury after profitable quarter
August 7, 2014 / 12:20 PM / 3 years ago

Freddie Mac to pay $1.9 bln to U.S. Treasury after profitable quarter

WASHINGTON, Aug 7 (Reuters) - Government-controlled mortgage finance firm Freddie Mac said on Thursday it will pay U.S. taxpayers $1.9 billion after posting an eleventh straight quarterly profit.

Once it has made the latest payment in September, it will have returned $88.2 billion to taxpayers in return for the $71.3 billion in aid it received after being placed under the government’s wing at the height of the financial crisis.

The company, the nation’s second-largest source of mortgage funds, earned a net income of $1.4 billion between April and June. (Reporting by Tim Ahmann Editing by W Simon)

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