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Freddie Mac Is Focused on ‘Speed to Exit’ U.S. Control, CEO Says

Oct. 30, 2019, 4:37 PM

Freddie Mac said it’s working to exit federal control as quickly as possible, showing the mortgage giant is committed to a top goal of the Trump administration.

Freddie reported Wednesday that its third-quarter net income fell 28% to $1.85 billion from the same period a year earlier. The company now has $6.7 billion in capital following the Treasury Department’s decision to let it retain earnings instead of sending profits to the government through a quarterly dividend payment.

Freddie doesn’t plan to pay a dividend in the fourth quarter either and is working to meet requirements laid out by its regulator ...