Mortgage giant Freddie Mac posted a net loss of $4.1 billion for the third quarter, compared with a loss of $6 billion a year earlier.
The company paid a $1.6 billion dividend to the Treasury, which rescued the ailing company two years ago. Freddie Mac also set aside $3.7 billion to cover credit losses and posted derivative losses of $1.1 billion, the company said in a statement.
Freddie Mac will…
Continue reading Freddie Mac Posts $4.1 Billion Loss, Requests More U.S. Aid
Freddie Mac Posts $4.1 Billion Loss, Requests More U.S. Aid originally appeared on DailyFinance on Wed, 03 Nov 2010 09:00:00.
Filed Under: Company News, Economy, Earnings, Real Estate, Freddie Mac, Taxes, Credit