WASHINGTON, August 6, 2008 (AFP) - Troubled mortgage finance giant Freddie Mac on Wednesday reported an 821-million-dollar net loss in the second quarter as the US housing collapse further dug a hole in the company's finances.
At 1.63 dollars per share, the loss was more than triple most analysts' forecasts of 53 cents per share.
In July Freddie Mac, a government-chartered, shareholder-owned firm, announced plans to raise 5.5 billion dollars through a new share offering
The company, along with larger rival Fannie Mae, has been roiled by concerns about solvency in the face of the worst housing slump in decades.