Freddie Mac and Fannie Mae post loss in Q3

--they raise $2.7 trill to purchase and guarantee home mortgages --Freddie Mac posted 2.03 bil wider than expected loss, Fannie 1.4 bil --FM's loss reflects a provision for credit losses of 1.2 bil and 3.2 bil writedown --FM cut dividend by 50% to 25 c --core capital 34.6 bil, 600 mil more than the required captial. --they own or guarantee a combined $4.8 tril of U.S. home-mortgage-loans, mor than 4.3 tril a year ago --among U.S. mortgage securities offfered to invesetors, the portion guaranteed by Fannie and Freddie has rebounded to 72% from 41% in 2005 --Loans guaranteed by Fannie or Freddie are put into "pools" of mortgages that provide the backing for mortgage securities. When borrowers fall behind on payments on some of those loans, the companies have to buy those loans and reimburse the holders of the securities. Fannie and Freddie then must recognize a loss on any drop in the market value of the loan below the amount they paid for it. --Freddie Mac's regulatory core capital was estimated at $34.6 billion at September 30, 2007, which represented an estimated $8.5 billion in excess of the regulatory minimum capital requirement, and an estimated $0.6 billion in excess of the 30 percent mandatory target capital surplus directed by the Office of Federal Housing Enterprise Oversight (OFHEO).