主题：【原创】全球熊市的开始：DOW大跌超过400点 -- 倥偬飞人

How is Fannie performed? [/COLOR]

Freddie Reports Fourth Quarter Loss of $480 Million (Update7)

By James Tyson

March 23 (Bloomberg) -- Freddie Mac, the second-largest U.S. mortgage finance company, reported a $480 million net loss in the fourth quarter as fees from providing guarantees for bonds fell and it lost money on derivatives.

The loss compares with net income of $684 million in the fourth quarter of 2005, the McLean, Virginia-based government- chartered company said in a statement today. Freddie Mac and the larger Fannie Mae own or provide guarantees on about 40 percent of the $10.5 trillion U.S. residential mortgage market.

Freddie Mac's results show the company ``is becoming a lower margin, lower volume, lower risk and higher capitalized'' business, Jim Vogel, head of agency research at FTN Financial in Memphis, Tennessee, said in a research note today. ``That formula means it is going to have to streamline costs and become still more aggressive when odds are in its favor.''

[COLOR=blue]Freddie Mac hasn't released timely financial reports since disclosing in 2003 that it understated earnings by $5 billion to minimize earnings volatility. It plans to provide results for the first quarter of 2007 ``sometime after Memorial Day,'' a U.S. holiday on May 28, Freddie Mac Chief Operating Officer Eugene McQuade said today in an interview.

......

外链出处