Freddie Mac says Q4 losses not related to subprime woes 
GSE says it's poised to capitalize on turmoil in mortgage lending
By Matt Carter, Friday, March 23, 2007.Mortgage repurchaser Freddie Mac reported a net loss of $480 million in the fourth quarter as it upped provisions for losses and saw the value of its investments decline because of a drop in long-term interest rates.
In their annual report to investors, Freddie execs emphasized that they are not heavily invested in subprime loans. The abrupt turnaround from a $684 million profit earned during fourth-quarter 2005 was an anticipated consequence of falling interest rates, not the quality of its loans.
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