Freddie Mac loses $821 mln on housing, credit markets

WASHINGTON (MarketWatch) -- Freddie Mac, the second-biggest buyer of U।S. mortgages, reported a second-quarter loss of $821 million on Wednesday, as the battered housing market and slumping credit conditions again pummeled the company's bottom line.

The company's loss was the equivalent of $1।63 a share, compared to a profit of $729 million, or 96 cents a share, in the year-ago period. Revenue fell 28% to $1.69 billion.