Government-sponsored enterprise (GSE) and mortgage lender Freddie Mac experienced a significant loss in net income during the second quarter of 2007, according to a press release issued by the GSE this week.

Freddie Mac’s second quarter report shows the company netted an income of $764 million, or $1.02 per diluted common share, for the second quarter, compared to $1.4 billion, or $1.93 per diluted common share, for the same period last year.
“Our business volumes for the quarter were strong, with continued growth in our credit guarantee portfolio and improved commitments for our retained portfolio,” said Richard Syron, chairman and chief executive officer. “Rarely has that role been as important as it has been during this period of volatility in the U.S. housing and residential mortgage markets. Furthermore, we have been able to serve the market while maintaining a disciplined approach to risk.”
Click here to read Freddie Mac’s complete Second Quarter Report.