The Freddie Mac offices on August 11, 2010, in McLean, Virginia - 

Freddie Mac, the government backed mortgage giant, just posted very strong earnings. Freddie pulled in 5 billion dollars last quarter, the second largest profit in its history. John Silvia is chief economist at Wells Fargo, explains why just a few years after coming to the brink of collapse, Freddie and Fannie are doing better than ever.

Follow Stacey Vanek Smith at @svaneksmith