Keeping pace with Fannie Mae, which released record third-quarter earnings last Wednesday, Freddie Mac reported record earnings of its own Tuesday.

Freddie's earnings rose 15% from the year-earlier period, to $645 million, or 86 cents per diluted common share, beating analysts' consensus estimate by 1 cent. David W. Glenn, Freddie's vice chairman and president, credited "strong portfolio growth and excellent credit results."

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