Freddie reports $6.7 billion Q1 loss, asks U.S. for $10.6 billion

Freddie Mac said it lost $6.7 billion in the first quarter, an improvement from a $9.9 billion loss in the same quarter last year. The company said it needs an infusion of $10.6 billion from the U.S., made necessary by a change in accounting rules. The rules require entities such as Freddie to bring mortgages they guarantee onto their books. On paper, the change slashed Freddie's equity by $11.7 billion.