Freddie Sets Quarterly Report Date

Freddie Mac plans to release its first quarterly financial report since mid-2003 on June 14 when it reports the company's first quarter results."We are very proud that next week for the first time in five years we will return to quarterly reporting," Freddie chairman and chief executive Richard Syron said at the company's annual shareholders meeting. Freddie suspended its quarterly reporting in 2003 when massive accounting problems were uncovered and the publicly traded company had to restate earnings. Separately, Fannie Mae, which is behind Freddie in repairing its accounting systems, said its 2006 annual financial report will be released in the third quarter of this year. Fannie also has scheduled its annual shareholders meeting for Dec. 14. Freddie reported its 2006 annual results in March.