Freddie Mac Reports Big Loss on Loans:...
From Times Staff and Wire Reports
Freddie Mac Reports Big Loss on Loans: The Federal Home Loan Mortgage Corp., one of the country’s most important home-financing concerns, said it had $124 million in losses in its mortgage portfolio during the July-September quarter. The Reston, Va.-based company, known as Freddie Mac, said it lost $81 million on apartment loans and $43 million on single-family mortgages. The latest loan writeoffs will be reported later this month, when it issues earnings for the third quarter, the company said. Freddie Mac is a stockholder-owned, congressionally chartered secondary-mortgage market company.
