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NEW YORK, N.Y. - Standard
The government rescued Freddie and larger sibling Fannie Mae during the 2008 financial crisis after they incurred massive losses on risky mortgages. The companies received taxpayer-funded loans totalling about $187 billion.
They have turned profitable in recent months as the housing market has recovered. McLean, Va.-based Freddie this month will have paid back about $37 billion of the $71.3 billion it received.