Use access key #2 to skip to page content.
$14.50 -1.42 (-8.92%)
7/3/2008 1:01 PM

Freddie Mac (FRE)

CAPS Rating:
*

A stockholder-owned corporation chartered by Congress to create a flow of funds to mortgage lenders. Purchases certain residential mortgages that it finances by issuing mortgage pass through securities and debt instruments in the capital markets.

View All Commentary (FRE)

Recs

1

Avatar mandrake66 (99.40) Submitted: 5/15/08 3:54 PM : Underperform Start Price: $27.22 FRE Score: 7.92

From the WSJ:

"Freddie also reported that the "fair value," or estimated market value, of its net assets was a negative $5.2 billion as of March 31, compared with a positive $12.6 billion three months earlier. That means the estimated market value of assets falls short of estimated liabilities, largely stemming from the costs of mortgage defaults. [Chief financial officer] Mr. Piszel said the negative fair value reflects current distressed prices for mortgage securities and has "no impact" on the operations of a company like Freddie that is a long-term holder of mortgages."

Yeah. Ok.

Report this Post Replies: 0 | Reply

Featured Broker Partners