Government-chartered mortgage financier Freddie Mac posted an $821 million net loss in the second quarter, bringing losses for the last 12 months to nearly $1.6 billion.

The news raised concerns that the company will have to raise more capital than the $5.5 billion it pledged to raise in May, which could restrict future purchases of mortgages. The company announced it will cut common stock dividends from 25 cents to 5 cents per share, but announced no timetable for raising new capital by issuing stock and securities.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top