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Freddie Mac Posts Quarterly Loss, Requests $1.8B 

WASHINGTON, DC-Unlike Fannie Mae, nonperforming loans at Freddie Mac are continuing to rise. 

By Erika Morphy  | Updated on August 10, 2010

WASHINGTON, DC-Freddie Mac posted a quarterly net loss of $4.7 billion and is asking the Treasury Department to inject another $1.8 billion, for a total of $63.1 billion in government aid since the crisis began. This time last year, Freddie Mac reported a net income of $302 million. This quarter’s loss is the eleventh out of the past 12 quarters. 

Fannie Mae also reported a net loss last week for its quarterly report: $1.2 billion, which was down from its net loss of $14.8 billion in the same period a year earlier. It was the smallest loss the GSE has had in three years. Fannie tapped the Treasury for $1.5 billion, bringing the government’s rescue tab to $86.1 billion. 

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