Freddie Mac Reports Annual Profit

Who said $71.3 billion doesn’t help? Freddie Mac, the government-run mortgage-finance company, is reporting it earned $11 billion in 2012—its first increase in net income since 2006. The increase comes after billions in U.S. Treasury aid after being taken over by the government in 2008. Freddie Mac pointed to increasing home values or fewer defaults as the source of this past year’s success.