Freddie Mac Posts $4B Profit In 1Q
Mortgage giant Freddie Mac posted net income of $4 billion for the January-through-March period, helped by a strengthening housing market. The government-controlled company has turned a profit in each of the past 10 quarters. Freddie’s first-quarter profit reported Thursday compared with earnings of $4.6 billion in the first three months of 2013. Net income was bolstered in the latest period by a decline in mortgage delinquencies, the company said.
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