Freddie Mac: The stockholder-owned corporation chartered by...
From Times Staff and Wire Service Reports
Freddie Mac: The stockholder-owned corporation chartered by Congress in 1970 to create a continuous flow of funds to mortgage lenders reported second-quarter net income of $118 million, up 11% compared to the year-ago period. The corporation also reported that its market value of assets in excess of liabilities before taxes was $5.6 billion at June 30, compared to about $2 billion in stockholders’ equity at the same date in 1989. The Reston, Va.-based company said that its quarterly net income was the highest in its 20-year history and that it reflected “solid business fundamentals and prudent risk management.”
Tables, D15
