Get notifications in real-time for staying up to date with content that matters to you.
US government-sponsored Freddie Mac reported a net loss of $151 million for the first quarter of 2008 overnight – a significant improvement from the $2.5 billion net loss reported for the fourth quarter of 2007.
Chairman and chief executive of Freddie Mac Richard F. Syron said the result was a good result, despite ongoing challenges because of credit market conditions.
He said he was especially pleased that the company continued to serve its missions of being “a consistent, reliable provider of affordability, liquidity and stability to the nation’s housing finance system”.
Freddie Mac plans to raise $5.5 billion worth of new capital to continue serving its “mission” and meet the market’s needs in this “time of stress”.
Published: 15-05-08
Who do you aggregate through?
Thank you for your vote, you can see the results here.
Court rules against bank for ‘unfair’ loan terms
The Federal Court has declared a number of loan contracts entered...
RBA, APRA sing different tune on serviceability buffers
APRA chair Wayne Byres has dismissed the need for a cut to the bu...
Remodelled FHB scheme cops backlash
From 1 July, all applications for the FHLDS will require a Notice...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
