Freddie Mac Reports First Quarter Loss

Freddie Mac today reported a $354 million loss in the first quarter, following a $2.15 billion profit in the previous quarter. The drop in Freddie’s income was largely due to derivatives losses after increases in interest rates. The company will not have to draw from the Treasury to cover its loss.


About Author

Monica C. Meinert is a senior editor at the ABA Banking Journal and VP for editorial strategy at the American Bankers Association, where she oversees ABA Daily Newsbytes.