(Bloomberg) -- Freddie Mac, the second-largest source
of money for home loans, reported its third consecutive quarterly
loss after a drop in the value of derivatives it uses to hedge
interest rate risk.
The net loss was $211 million, or 46 cents a share, compared
with net income of $2 billion, or $2.80 a share, a year earlier,
the McLean, Virginia-based company said today in a statement.
Revenue from providing guarantees on mortgage bonds jumped 11
percent to $460 million.
Read more at Bloomberg Bonds News
of money for home loans, reported its third consecutive quarterly
loss after a drop in the value of derivatives it uses to hedge
interest rate risk.
The net loss was $211 million, or 46 cents a share, compared
with net income of $2 billion, or $2.80 a share, a year earlier,
the McLean, Virginia-based company said today in a statement.
Revenue from providing guarantees on mortgage bonds jumped 11
percent to $460 million.
Read more at Bloomberg Bonds News
No comments:
Post a Comment