Freddie Mac's 1st quarter profit flirts with record high

Freddie Mac booked the second highest profit in the company’s history in the first quarter of this year, the company reported today.

First quarter net income was $4.6 billion, compared to $4.5 billion in the fourth quarter of 2012, Freddie Mac said. Since the government bailed out the mortgage giant, Freddie Mac has paid $29.6 billion back to the Treasury, including $5.8 billion in the first quarter of 2013, according to the company.

In June, it will pay the Treasury an additional $7 billion, Freddie Mac said. Source: Freddie Mac