Freddie Mac to seek $6.1 billion infusion from Treasury

05/13/2009 | Financial Times (free content)

Following a $9.9 billion loss in the first quarter, Freddie Mac is planning to draw an additional $6.1 billion from the Treasury Department. While the mortgage company sees signs that the housing meltdown is close to bottoming out, it expects more quarterly losses. "We are seeing preliminary signs of slowing in home price declines as low mortgage rates and high affordability take hold, and conforming mortgage credit to prime borrowers continues to be widely available," said John Koskinen, interim CEO at Freddie.

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