“(Reuters) – Freddie Mac reported a third-quarter profit on Tuesday, driven by a U.S. housing marketon the mend, and said it was not requesting additional funds from the U.S. Treasury to stay solvent.
The government’s second-largest mortgage funding entity, which said its portfolio of late-paying loans was the lowest in two years, had sufficient income to make a $1.8 billion dividend payment to the Treasury.
Freddie Mac had net earnings of $2.9 billion in the quarter that ended September 30, contrasting a $4.4 billion loss a year earlier.
This is the first time Freddie Mac reported earnings since the U.S. Treasury said it would force Freddie, as well as larger government funding firm Fannie Mae , to more quickly shrink their mortgage investments and turn over profits to taxpayers.”
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