WASHINGTON – Freddie Mac reported a $1.2 billion second quarter profit this morning, meaning the housing giant will not require government bailout funds this quarter for the first time since its 2008 federal takeover.

The second quarter profit compares to a $3.8 billion loss for the same period last year and a $1.2 billion loss for the first quarter this year, necessitating an additional $19 million in government bailout funds. At the end of May, Freddie had received $72 billion in bailout funds since the 2008 takeover.

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