Industry News

Freddie Mac profits down 45%

Higher foreclosure rates on 2006, 2007 loans blamed
Published on Aug 30, 2007

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Freddie Mac’s second-quarter net income fell 45 percent to $764 million, the company said today, blaming much of the decline on higher provisions for credit losses. Provisions for credit losses and real estate-owned operations expenses were $336 million during the ...