Freddie Mac, the second-largest provider of U.S. residential mortgage funding, on Wednesday said ongoing weakness in housing resulted in a $4.1 billion third-quarter net loss and another draw from the Treasury to maintain positive net worth.
Costs may increase "significantly" as snags in the foreclosure processes at major loan servicing companies increase delays in working with troubled borrowers and selling properties, it warned.
http://www.foxbusiness.com/markets/2010/11/03/freddie-mac-says-net-loss-billion/
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