Freddie Mac 2005 Results

Now that the accounting scandals have settled at the giant American mortgage company, Freddie Mac has announced that 2005 has been a good year for them. Although it was expected to announce it's financial results for 2005 in March, it now says it will release them in May as they are changing the way they value certain assets.
Freddie Mac Says It Had Strong Year in '05
"Freddie Mac said its mortgage holdings grew 12 percent last year to $1.7 trillion. Richard Syron, the company's chairman and chief executive officer, called it "a solid year."
"We improved our business operations, enhanced our strong senior management team and built stronger ties with our business partners," said Syron. "That said, we quite obviously need to make additional progress on our financial reporting. We shall take the necessary steps to upgrade our control and financial reporting infrastructure to meet our regulatory and reporting commitments." ABC
# Mortgages, Major Companies