Orange County Register

Freddie Mac, one of the two largest U.S. purchasers of home loans, today reported a fourth-quarter loss of $23.9 billion and requested additional taxpayer funding of up to $30.8 billion.

David Moffett, Freddie Mac’s CEO, blamed “mark-to-market items and credit-related expenses” for the big loss.

And Bloomberg reports that $200 billion in total financing pledged by the U.S. Treasury may not be enough for Freddie.

The latest Freddie news is no surprise, especially since Fannie Mae in late February requested 15.2 billion in aid and reported a $25.2 billion loss in Q4.

And in other news…

• Loan workouts outpace foreclosures statewide
• Wells Fargo stock rises on Buffett endorsement
• Supply of O.C. distressed homes below a year ago
• Fed rogue or master plan?
• Is mortgage cramdown fear a red herring?
• Wells slashes dividend
• Paying off a mortgage vs. refinancing
• SEC closing in on Mozilo, article says
• Fed buys net $30 billion in mortgage bonds
• Citigroup for $1

You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.