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The Associated Press: Freddie Mac gets another $6.1B from gov'tFreddie Mac gets another $6.1B from gov't
8 hours ago
NEW YORK (AP) — Battered mortgage giant Freddie Mac received $6.1 billion in new funds from the Treasury Department to help offset its mounting liabilities, according to a regulatory filing submitted Wednesday.
The company could also be close to naming a new, permanent CEO, according to a report in The Wall Street Journal.
The Federal Housing Finance Agency, which has been operating Freddie Mac since last fall, requested the funds for Freddie Mac after the mortgage firm's liabilities exceeded its assets by more than $6 billion, according to the filing with the Securities and Exchange Commission.
After drawing the funds, Freddie Mac has now received $51.7 billion from the Treasury Department and still has access to an additional $149.3 billion to help it finance operations.