Mortgage giant sees $320 million loss on new mortgages in Q2
(Newser) -
Freddie Mac posted a 45% drop in net income for the second quarter, and said the outlook wasn't rosy for the third. The home-mortgage financier was hit with a $320 million loss on new mortgages. Freddie Mac doesn't buy subprimes directly, but is still affected by the general mortgage turmoil.