Freddie Mac Posts $7.6 Bln In Credit-Related Losses

09 Nov 2009

Freddie Mac recorded a net loss of $5 billion in the third quarter, thanks in large part to provisions of $7.6 billion for credit losses as the result of further deterioration in its portfolio of single-family home guarantees.

Freddie Mac recorded a net loss of $5 billion in the third quarter, thanks in large part to provisions of $7.6 billion for credit losses as the result of further deterioration in its portfolio of single-family home guarantees. The third-quarter figures compared unfavorably with net income of $768 ...

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