Effected by the weakening house prices and deteriorating credit, Freddie Mac, the U.S. major mortgage lender, reported Tuesday a net loss of 2 billion U.S. dollars in the third quarter.
The company also reported a decrease in the fair value of net assets attributable to common stockholders, before capital transactions, of approximately 8.1 billion dollars for the quarter, compared to an increase of approximately 300 million dollars for the same period in 2006.
Compared to the second quarter of 2007, the company reported declines in both net income and fair value primarily due to increased credit-related expenses and losses on mark-to-market items.
Richard F. Syron, Freddie Mac chairman and CEO recognized, 2007has been an extremely difficult year for the housing and credit markets.
The company have been impacted by the deterioration in these markets, but at the same time, they have continued to meet their mission by playing a stabilizing role in the markets and supporting the customers, he added.
Source:Xinhua
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