Freddie Mac Chief Executive Donald Layton insisted Tuesday that the government-sponsored enterprise showed "very strong fundamentals" in the third quarter, despite reporting a $501 million loss due to an accounting mismatch with its use of derivatives.

It was the enterprise's first quarterly loss in four years, compared to a net income of $2.8 billion a year earlier, but it will not force Freddie to request a draw from the U.S. Treasury.

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