Fannie Mae has reported First Quarter 2010 Earnings Results. The government-sponsored enterprise, which has been operating under government conservatorship since September 7, 2008, lost $11.5 billion in the first quarter compared with a net loss of $15.2 billion in the fourth quarter of 2009. Fannie...
December is starting off with a bang for Fannie Mae . On December 6 the mortgage giant announced that it had (finally) finished a restatement of its earnings dating from 2004 back to 2001 and had filed the required Form 10Ks with the Securities and Exchange Commission (SEC). And then on December 12 it...
The money has to come from someplace, and Fannie Mae, facing a $9 billion restatement of earnings for the years 2001 to 2004 and a demand from regulators that it increase its capital surplus by 30 percent, had a lot of money, some say $12.5 billion, to come up with. On Tuesday Fannie, whether on its...
Fannie Mae, the second largest financial institution in the country and the backbone, along with its sister corporation Freddie Mac, of the nation's mortgage industry, learned that it would indeed have to restate its earnings statements because of accounting irregularities. Fannie's problems first surfaced...