Archive for the ‘Mortgage Company’ tag
Freddie Mac Announces Huge Second Quarter Losses
Freddie Mac released its second quarter 2008
financial statements on Wednesday revealing some staggering losses.
The nation’s second largest mortgage company said that losses in the
second quarter totaled $821 million or $1.63 per share
compared with a profit of $729 million in the second quarter of 2007.
In response to the losses the government sponsored enterprise (GSE)
said it would cut its quarterly dividend by 80 percent
to…