Freddie Mac Reports $48.7 Billion 2013 Profit

Freddie Mac reported a record annual profit of $48.7 billion for 2013 on Thursday, powered by a strong rebound in U.S. home prices and a series of legal and accounting benefits that reversed earlier losses.

Freddie will pay $10.4 billion to the U.S. Treasury after it posted an $8.6 billion fourth-quarter profit, the ninth-straight quarter in which the company has been profitable. The bulk of those gains were due to either one-time…

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