FHFA Requests $10.7B For Fannie

Mae [link=http://www.fanniemae.com/ir/pdf/earnings/2009/q22009.pdf][u]reported[/u][/link] a $14.8 billion second-quarter loss, an improvement over the company's first-quarter loss of $23.2 billion. The second-quarter results were driven primarily by $18.8 billion of credit-related expenses. Fannie Mae says the expenses were partially offset by fair-value gains, and that it saw a substantial decrease in impairment losses on investment securities, which was due, in part, to the adoption of new accounting rules. The loss resulted in a net worth deficit of $10.6 billion as of June 30, leading Fannie Mae's conservator, the Federal Housing Finance Agency, to request $10.7 billion from the Treasury Department. SOURCE: [link=http://www.fanniemae.com]Fannie Mae


Please enter your comment!
Please enter your name here