Freddie Mac posted a $4.1 billion loss in the third quarter — after paying a $1.6 billion dividend to the U.S. Treasury — but also saw its overall "serious" delinquency rate fall to 3.8%.
The government controlled GSE said it would ask the U.S. Treasury for $100 million of capital assistance to keep its net worth position in the black.
It had a net worth deficit of $58 million at Sept. 30, compared to $1.7 billion at mid-year. (Excluding the payment to Treasury, it lost $2.5 billion in the quarter.)
The biggest factors contributing to its loss include a $3.7 billion provision for credit losses, a derivative charge of $1.1 billion, and security impairments of $1.1 billion.
Its serious delinquency ratio fell from 3.96% at June 30.
Freddie estimates that it purchased or guaranteed 25% of all home mortgages originated in the U.S. since January 1.
The company has been a ward of the government since September 2008.
