The Federal Home Loan Mortgage Corporation has reported a net loss of $23.9 billion, or $7.37 per diluted share, for the fourth quarter ended December 31, 2008, compared to a net loss of $25.3 billion, or $19.44 per diluted share, for the third quarter ended September 30, 2008.
Net interest income was $2.6 billion for the fourth quarter of 2008, up $781m from $1.8 billion in the third quarter of 2008.
For the full year ended December 31, 2008, the company reported a net loss of $50.1 billion, or $34.60 per diluted share, compared to a net loss of $3.1 billion, or $5.37 per diluted share, for the full year ended December 31, 2007. Net interest income for 2008 was $6.8 billion, up from $3.1 billion for 2007.
David Moffett, CEO of Federal Home Loan Mortgage Corporation (Freddie Mac), said: Freddie Mac is working hard to serve our expanded mission in this historic crisis, by doing all we can to help stabilise the financial markets and hasten the recovery in housing. We absorbed heavy financial losses last year, driven primarily by mark-to-market items and credit-related expenses. But we also provided vital liquidity to the strapped housing market — injecting more than $460 billion in mortgage funding in 2008.
