Freddie Mac Profits Improve in First Quarter

Following a weak end to 2014, Freddie Mac today posted improved net income of $524 million in the first quarter — although the figure is still down significantly from the $4 billion the company earned in the first quarter of 2014.

Freddie’s income was hit by $2.4 billion in losses on derivatives used to reduce exposure to interest rate risk. The company said it will make a $746 million payment to the U.S. Treasury in June, bringing the total it has returned to taxpayers since being bailed out in 2008 to $92.6 billion.