Freddie Mac reports first loss in four years

Freddie Mac's third quarter net income plummeted compared to last quarter, posting a net loss of $475 million for the third quarter of 2015, significantly down from $4.2 billion in the second quarter of 2015. However, this aside, Donald Layton, CEO, said, "The business had very strong fundamentals with growing volumes of guarantees and continued improving credit quality in the guarantee businesses."