Freddie Mac's $2.5 billion loss is its smallest in a year

11/3/2010 | Wall Street Journal, The

Freddie Mac posted a quarterly loss of $2.5 billion as signs point to a slowing of mortgage delinquencies. The mortgage giant warned, however, that foreclosure delays could boost costs and offered a dismal outlook for the housing market. "We believe that it will be a considerable time until the housing market has a sustained recovery," said Charles E. Haldeman Jr., CEO at Freddie Mac.

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