Freddie Seeks $100 Million After Third-Quarter Loss |
| Bloomberg - Nov 3, 2010 |
Freddie Mac, the mortgage-finance company operating under federal conservatorship, requested $100 million in U.S. Treasury Department aid after reporting a narrower loss for the third quarter.
The company reported a loss of $4.1 billion for the three months ended Sept. 30, including $1.6 billion owed to Treasury as a dividend payment on the federal government’s 80 percent stake, McLean, Virginia-based Freddie Mac said today in a U.S. Securities and Exchange Commission filing. Freddie Mac requested $1.8 billion when it reported a $6 billion second-quarter loss.
The request for aid accompanying Freddie Mac’s fifth straight quarterly loss adds to the $63 billion the government- sponsored firm has received since September 2008, when it was seized by regulators along with Washington-based Fannie Mae. Including today’s request, the two firms have received more than $148 billion in aid and returned $14.6 billion in dividends.
Read Full Article from Bloomberg
- Posted: 2010-11-03 12:26:48
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