Wednesday , 20 January 2021

Freddie Mac Profits Put Taxpayers $91.8 Billion in the Black

By Jann Swanson

Posted To: MND NewsWire

Freddie Mac said today that full-year net income and comprehensive income, $7.7 billion and 9.4 billion respectively, made 2014 the company’s third straight year of profitability. The financial results were driven primarily by: Net interest income of $14.3 billion Settlement income of $6.1 billion related to private-label securities litigation Derivative losses of $8.3 billion driven mostly by declining interest rates Net and comprehensive income results were substantially below the numbers booked in 2013 of $48.7 billion and $51.6 billion respectively, totals that included an income tax benefit of $23.3 billion that primarily resulted from the release of the deferred tax asset valuation allowance in the third quarter of 2013. The decreases in 2014 net income and comprehensive income were further…(read more)

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