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News Link • Economy - Economics USA

Freddie Mac Q3 net loss $4.1 billion, taps Treasury

• Reuters

Freddie Mac, the second-largest provider of U.S. residential mortgage funding, on Wednesday said a faltering housing market resulted in a $4.1 billion third-quarter net loss and another draw from the Treasury to maintain positive net worth.

Freddie Mac in a quarterly regulatory filing also warned it may face significant costs related to snags in the foreclosure processes at major loan-servicing companies.

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