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Securitization

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Despite Narrowed Losses, Freddie Needs $6.1 Billion 

May 13, 2009By

Mortgage giant Freddie Mac [stock FRE][/stock] posted a $9.9bn net loss — or $3.14 per share — in Q109, from the $23.9bn net loss in Q408. The company’s refinance-loan purchase volume quadrupled since the previous quarter, but poor performance of securitized loans drove Freddie into a net worth deficit.

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