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Freddie Mac first-quarter net loss widens

NEW YORK (Reuters) - Freddie Mac, the second-biggest provider of funding for U.S. residential mortgages, on Wednesday said its first-quarter loss widened slightly as its credit losses deepened.
Posted : Wed, 14 May 2008 11:42:02 GMT
Author : Reuters
Category : US (Business)
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NEW YORK (Reuters) - Freddie Mac, the second-biggest provider of funding for U.S. residential mortgages, on Wednesday said its first-quarter loss widened slightly as its credit losses deepened.

The McLean, Virginia-based company said it lost $151 million, or 66 cents per share in the quarter, compared with a $133 million, or 35 cents per share loss in the same period a year earlier. It is coming off a record $2.5 billion loss in the fourth quarter.

Wall Street analysts expected Freddie Mac to post a net loss of $1.57 per share in the first quarter, according to Reuters Estimates.

(Reporting by Al Yoon; Editing by Tom Hals)


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