[lbo-talk] Sub-prime slump hits Freddie Mac

uvj at vsnl.com uvj at vsnl.com
Sun Sep 2 16:16:52 PDT 2007


BBC News http://news.bbc.co.uk/

Last Updated: Thursday, 30 August 2007

Sub-prime slump hits Freddie Mac http://news.bbc.co.uk/2/hi/business/6970934.stm

[Freddie Mac said credit losses would continue into next year]

US mortgage lender Freddie Mac has suffered a steep fall in second quarter profits, as record defaults on home loans took their toll.

The government-backed firm that buys mortgages from commercial lenders saw 45% wiped off its net income to $764m (£379.2m), from $1.4bn the year before. http://news.bbc.co.uk/2/hi/business/6970934.stm



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