Freddie Mac reports $1.5 billion of net income in Q2, down from $2.5 billion a year ago

Freddie Mac reported net income of $1.5 billion in the second quarter, down from $2.5 billion in the year-ago quarter. The government-sponsored enterprise said it expects to submit $1.8 billion to the U.S. Treasury by September, a payment known as a “profit sweep,” bringing its total payments to $119.7 billion, exceeding its original draw by about $48.1 billion.