The federally chartered but privately owned mortgage finance firm, known formally as Federal Home Loan Mortgage Corp, has paid back the American government and then some since its bailout following the 2008 housing crisis. Freddie Mac was effectively nationalized in 2012, along with Fannie Mae, and has since returned 100% of its profits each year to the U.S. Treasury and remained in conservatorship. Treasury Secretary Steven Mnuchin says it’s time to remove the firms from government control, although a specific path forward is still unclear. Freddie Mac’s revenues grew more than 13% in 2017, but the firm’s stock continued to fall to due to uncertainty for shareholders as changes and reforms approach.
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