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Mortgage giant Freddie Mac posts $524M profit in 1Q; paying $746M dividend to government

By Marcy Gordon

Mortgage giant Freddie Mac reported net income of $524 million for the first quarter, down sharply from the same period of 2014, as it sustained losses on the investments it uses to hedge against swings in interest rates.

The January-through-March results posted Tuesday marked the government-controlled company’s 14th straight profitable quarter. Freddie said that although earnings show volatility, its business fundamentals are strong and continued to improve during the quarter.

Read the full article: Mortgage giant Freddie Mac posts $524M profit in 1Q; paying $746M dividend to government