Freddie Mac Lost $4.1 Billion in Q3 Needs More Federal Aid

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Freddie Mac Posts $4.1B Loss for Q3

Mortgage buyer Freddie Mac has posted a loss of $4.1 billon in the July-September quarter.

The government-controlled mortgage buyer is also asking for an additional $100 million in federal aid.

The government rescued McLean, Va.-based Freddie Mac and sibling company Fannie Mae nearly two years ago to cover their losses on soured mortgage loans, and it estimates the bailouts will cost taxpayers up to $259 billion.

Freddie Mac's third-quarter loss attributable to common stockholders works out to $1.25 a share. It takes into account $1.6 billion in dividend payments to the government. It compares with a loss of $6.7 billion, or $2.06 a share, in the third quarter of 2009.