Freddie Mac said on Tuesday it would draw $6.1bn of capital from the US Treasury after a $9.9bn Q1 loss drove its net worth below zero. The government-run mortgage lender said it expected further losses in coming quarters, but noted early signs that the housing slump was close to a bottom. The latest capital infusion will bring the government’s stake in Freddie Mac to $51.7bn of senior preferred stock, which pays an annual dividend of 10%.

This entry was posted by Gwen Robinson on Thursday, May 14th, 2009 at 5:18 and is filed under Capital markets. Tagged with freddie mac. Edit this entry.