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

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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