Freddie Needs $35B For 4Q Loss, Chase Gets WAMU Servicer Deal

"Freddie Mac":http://www.freddiemac.com will need $30 to $35 billion from the "U.S. Treasury Department":http://ustreas.gov to avoid posting a loss for the fourth quarter of 2008, according to a "Securities and Exchange Commission report":http://www.sec.gov/Archives/edgar/data/1026214/000102621409000005/f71045e8vk.htm filed Friday.
The "Federal Housing Finance Agency":http://www.fhfa.gov, as conservator of Freddie Mac, can request the funds from a $100 billion preferred stock purchase sale Freddie made to the Treasury. Freddie Mac previously received $13.8 billion from the purchase agreement in November.
According to the filing, the amount Freddie Mac needs is an estimate based on preliminary unaudited results of the company's financial statements.
The filing also reported "JPMorgan Chase":http://jpmorganchase.com will become the servicer for mortgages previously serviced by Washington Mutual Bank. Washington Mutual Bank failed last year and was taken over by the Federal Deposit Insurance Corporation.