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Freddie Mac Reports Record $2.45B Loss

Rising defaults break mark mortgage investor set ... last quarter

By Kevin Spak, Newser Staff

Posted Feb 28, 2008 10:27 AM CST

(Newser) – Freddie Mac, the nation’s second-largest mortgage finance company, lost $2.45 billion in 2007's fourth quarter, topping the record $2.02 billion it lost the previous quarter, Bloomberg reports. Freddie’s CEO predicted still-greater losses ahead as loan defaults take their toll, but said... Read full story »

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Freddie Mac Reports Record $2.45B Loss

Rising defaults break mark mortgage investor set ... last quarter

earnings reports • mortgage • Freddie Mac • Fannie Mae • mortgage brokers • subprime crisis • mortgage defaults • financial crisis

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More Newser Stories

Big Fannie Mae Losses Prompt Fears of Failure

Crash would be big blow to US economy, housing market

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Government-backed lender off $3.56B, but feds lifts restraints on portfolio

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As both companies plummet, combining them might make sense

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