Freddie Mac has no comment on US Treasury takeover

Sun Sep 7, 2008 12:53pm EDT
 
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NEW YORK, Sept 7 (Reuters) - Freddie Mac (FRE.N), the second largest provider of funding for U.S. home mortgages, said it does not plan to issue an immediate statement after the government on Sunday assumed control of the company and larger rival, Fannie Mae (FNM.N).

"At this point, Freddie Mac does not plan to issue a statement or comment on today's announcement by the U.S. Treasury Department and Federal Housing Finance Agency," spokeswoman Sharon McHale said in an e-mail.

The Treasury is taking an equity stake in the companies and placing them under conservatorship to manage their businesses of providing money to the housing market.

(Reporting by Al Yoon)

 
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