Freddie Mac lost $ 4.4 billion in the third quarter of the year (Reuters - Archive)
Company Freddie Mac suffered a second major mortgage companies in the United States a loss of $ 4.4 billion in the third quarter of the year, the worst quarterly loss in morethan a year on government-owned company.
These results and the company is the latest sign of continued weak housing market in America and the sector to continue to drain company funds saved by the governmentduring the global financial crisis three years ago.
Freddie Mac said it will seek to gain the six billion dollars from the U.S. Treasury to coverlosses of the latest addition to the payment of proceeds of loans worth $ 1.6 billion.
The company warned of more weakness for the housing market with the rapid pace ofdefaults in the payment of mortgage loans.
It should be noted that Freddie Mac had received 72.2 billion of U.S. taxpayers' money,and the U.S. government seized control of Freddie Mac and Fannie Mae's major rival at the height of the financial crisis with the accumulation of real estate loan losses, whichthreatened to Bsagothma in bankruptcy.
The government justified the time the action as intended to save the institutions of the risk of bankruptcy, amid increasing cases of borrowers unable to pay the installments due on them.
Source: Agencies
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