WASHINGTON (AFP) - the financer of housing controlled by the Government of U.S. Freddie Mac reported its first quarterly profit in three years and a half years on Wednesday, after years of losses on its huge portfolio of mortgage loans.
To the rescue of the huge costs for the Government during the crisis of the past three years, Freddie Mac reported housing 676 million in net income for the period until March 31, compared to a loss of $ 6.7 billion a year more t?tet a deficit of 113 million dollars in the quarter to the 31 December.
It was the first net gain in 14 districts for the company, 80% owned by the Government, after that it and its larger sister, Fannie Mae, were rescued at the rate of hundreds of billions of dollars to the crisis.
Freddie Mac said it obtained a positive value of $ 1.2 billion in the quarter after radiation of 2.98 billion (an increase of 2.77 billion a year earlier) and an injection of $ 500 million by the U.S. Treasury by the end of last year.
He also said that she had paid a quarterly dividend of $ 1.6 billion to the Treasury.
Non-productive assets, mainly real estate loans in default, increased $ 124 billion--6,4% of its portfolio of mortgage loans total--117 billion a year earlier.
"Our support of the United States remained faithful during this critical period in the real estate market, one in every four home loans originated and helping more than 62,000 of funding evil borrowers avoid foreclosure."," Chief Executive Charles Haldeman said in a statement.
But he warned that the US housing sector was not clearly recovering.
"Continuous improvement on the front of employment and early crimes was positive signs in the quarter, but we believe that large stocks of unsold homes and a large number of distressed sales will continue to exert pressure downward on real estate prices in many neighborhoods."
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