Posts Tagged ‘lehman’Freddie Blows Through Another $35 BillionBy ANDREW JEFFERY This post first appeared on Minyanville. $100 billion just isn’t what it used to be. Over the weekend, Freddie Mac (FRE) requested a second draw on its Treasury Department credit facility, saying $30-35 billion would suffice to keep its net worth above zero, thank you very much. After taking $14 billion in [...] Credit Contraction ContinuesIn further evidence of the ongoing credit contraction, Mortgagedaily.com reports Lehman Brothers is shuttering its Small Business Finance unit. The division made small commercial mortgage loans to individuals and corporations. The closure is the latest in Lehman’s efforts to shrink its mortgage business and reduce exposure to the US housing market. Lenders everywhere are reducing [...] |