Freddie Mac, one of the biggest American mortgage buyers, has reported a 42% profit decline since year 2004, accompanied by a drop in the value of financial contracts used to prevent interest rate fluctuations.

Michael Cosgrove, Freddie Mac’s spokesman, informed about $2.8 billion income decrease from $4.9 billion, or $6.79 a share, in 2003 to $3.78 a share today.

``They need to assure all those concerned that they know what they are earning by filing reports, and then how they can grow,’’ James McGlynn, $6-billion Freddie Mac shareholder said.