Freddie Mac Reports Loss of $211 Million for Quarter
Deseret News (Salt Lake City) › June 15, 2007
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WASHINGTON (AP) -- Freddie Mac, the nation's second largest buyer and guarantor of home mortgages, reported a first-quarter loss of $211 million amid turbulence in the market and erosion in the value of financial instruments it uses to hedge against interest-rate swings.
The government-sponsored company, which is emerging from an accounting scandal, said Thursday it lost 46 cents a share for the three months ended March 31. That contrasted with a profit of $2 billion, or $2.80 a share, in the same period a year ago.See the full content of this document
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Freddie Mac Reports Loss of $211 Million for Quarter
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