Freddie Mac reports first profit in two years
Monday, August 10, 2009 : PermalinkReuters – Freddie Mac, the second largest provider of U.S. home mortgage funding, on Friday posted its first quarterly profit in two years as gains from hedges and a one-time accounting change offset still-lofty credit losses.
For the first quarter in four, Freddie Mac said it would not need a capital injection from the Treasury to maintain its business of providing credit for U.S. housing. But it continues to rely on the government for survival, it said.
Tags: accounting, capital injection, credit-losses, first quarter, fre, freddie-mac, hedges, home mortgage, quarterly profit, reuters, survival, treasury, u-s-home
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