Freddie try to limit damage

--Freddie Mac announced that it will reduce the number of overdue loans it purchases from investors in mortgage securities guaranteed by the company. --Its policy has generally been to buy problem loans from the investors shortly after they become 120 days overdue. Now, it will do that only in cases when the loans have been modified to ease terms for borrowers; a foreclosure sale occurs; the mortgage is overdue for 24 months; or th ecost of guarantee pyaments to investors exceeds the cost to Freddie of holding the loan on its own books