Freddie Mac Needs $35b From Treasury, Following $13.8b In November

Freddie Mac needs up to $35 billion in Treasury aid following the $13.8b they already got in November because they said their fourth quarter losses will drive net worth below zero. Jim Lockhart who runs their regulator the Federal Housing Finance Agency, said that Fannie Mae will likely need additional aid as well. They report mid-February.

Treasury had previously committed up to $100b for each government-sponsored entity—which, as a side note, is a term that used to only apply to them…the definition of a GSE is certainly evolving at an alarming pace.