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Business Briefing / Earnings

Freddie Mac posts loss of $6.3 billion

November 07, 2009|Times Wire Reports

Freddie Mac said its losses narrowed to $6.3 billion in the third quarter and it didn't need a federal cash infusion.

The McLean, Va., mortgage finance company has received about $51 billion since it was seized by federal regulators in September 2008, but avoided tapping the government for more aid for the second straight quarter.

The quarterly loss, which works out to $1.94 a share, includes $1.3 billion in dividends paid to the Treasury Department. It compares with a loss of $25 billion, or $19.44, in the year-earlier period.

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