Freddie Mac says it is still working toward releasing its quarterly and annual financial results for 2003 by the end of June."That is our goal," Freddie spokeswoman Sharon McHale said. The giant mortgage company, which is trying to recover from a $5 billion accounting scandal, released a restatement of its 2002 earnings last November. The restatement showed that Freddie's profits totaled $10.1 billion in 2002. The company originally reported a $5.7 profit when it was trying to manage and smooth out its earnings to please Wall Street. Freddie Mac officials have not provided guidance on when the 2004 first-quarter results will be ready for release. The government-sponsored enterprise can be found on the Web at http://www.freddiemac.com.
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The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
March 28 -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
March 28 -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
March 28 -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
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But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
March 28 -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
March 28