Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Washington
Inside Washington (08/08/2012)
  • WASHINGTON (8/9/12)--Freddie Mac Tuesday reported net income of $3 billion for the second quarter of 2012, compared with $577 million in the first quarter. The company also reported income of $2.9 billion for the quarter ended June 30, compared with income of $1.8 billion for the quarter ended March 31. The increase in net income in the second quarter reflected a decline in the provision for credit losses due to positive trends in the housing market, the government-sponsored enterprise said. The second-quarter income primarily reflected higher net income, partially offset by higher fair value losses on non-agency available-for-sale (AFS) securities that resulted from spread widening. Freddie Mac does not require a draw from Treasury for the second quarter because the company had positive net worth as of June 30. The company's $1.1 billion net worth as of June 30, reflects second quarter comprehensive income of $2.9 billion, partially offset by the $1.8 billion quarterly dividend payment to Treasury on the company's 10% senior preferred stock …


RSS print
News Now LiveWire
Reminder: @TheNCUA's Listening Session tomorrow in Chicago. Capacity crowd expected for meeting at 1 p.m. CT. http://t.co/FYYuoHCdVJ
4 hours ago
Mortgage apps up 1.9% in @MBAMortgage's weekly survey http://t.co/QBzKWdnRkH
5 hours ago
Manage your household budget with these 5 @SavvyMoney tips from @MCUA_news's Halley Abbott on @FOX2now http://t.co/qaXIbnNktt
6 hours ago
Wash state's marijuana market open but still short of FIs to serve it via @NWCUA http://t.co/qwxCVEZbPG
6 hours ago
.@AnheuserBuschCU, @ScottCU, @betterwaytobank, @FirstCommSTL on @stltoday's best workplaces list http://t.co/8yR4GcZkya.
7 hours ago