Mortgage-finance giant Freddie Mac hasn’t been as successful as its sister company, Fannie Mae, since the real estate market turned for the better in 2012. But it still has managed to return $98.2 billion to taxpayers since that time, buoyed by rising real estate prices, which have reached their pre-bubble norms nationally. The firm posted a $354 million net loss in the first quarter of 2016 due to swings in the value of its derivatives portfolio, which is sensitive to changing interest rates.
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