AccessMyLibrary provides FREE access to over 30 million articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Fannie and Freddie Face Upwards of $500 Million in Hurricane Losses.(Federal National Mortgage Association)(Federal Home Loan Mortgage Corp)
Washington -- Combined, Fannie Mae and Freddie Mac stand to lose more than a half billion dollars from damage caused by hurricanes Katrina and Rita, and the total could be more than $800 million, demonstrating the importance of hazard and flood insurance in vulnerable areas.
Fannie Mae said in an SEC filing that the hurricanes would likely cost the company $250 million to $550 million on an after-tax basis.
Measured by on-balance sheet holdings, Fannie Mae is $91 billion larger than its chief GSE competitor, Freddie Mac.
Freddie Mac said its anticipated loss is up to $300 million. That loss is tied to its guarantee of principal and interest payments on participation certificates that are collateralized by mortgages in three of the hardest hit states: Alabama, Louisiana and Mississippi.
Less than 1% of Freddie's guaranteed portfolio was affected by hurricane-related damage. In the hardest hit areas of Louisiana just 0.25% of its guaranteed portfolio was affected.
The loss would be booked in the third quarter as a charge against earnings. "This represents most of the losses we anticipate from the hurricanes," said a company ...
- Shoot-Out AT Gucci Gulch.(regulatory scheme for Fannie Mae and Freddie Mac)
- Magazine article from: Mortgage Banking SCHIAVONE, LOUISE L. May 1, 2001 700+ words
...revitalized regulatory scheme for Fannie Mae and Freddie Mac. After a nasty interlude...sponsored mortgage goliaths Fannie Mae and Freddie Mac, in one corner, and in...2.223 billion. Like Freddie Mac, Fannie Mae is traded on the New York...
- Fannie Mae, Freddie Mac Finance Bulk of Homes Bought by Hispanics in Miami.
- Newspaper article from: Knight Ridder/Tribune Business News February 7, 2002 700+ words
...where mortgage lenders Fannie Mae and Freddie Mac finance a larger share...Miami, 66.1 percent of Fannie Mae and Freddie Mac's loans in 2000 went...lenders fared better than Fannie Mae and Freddie Mac. The percentage of loans...
- Fees on Freddie, Fannie? No problem, analysts say. (Freddie Mac, Fannie Mae)
- Magazine article from: American Banker Klinkerman, Steve March 29, 1995 700+ words
...imposition of federal levies on Fannie Mae and Freddie Mac, the government-sponsored...government backing enables Fannie Mae and Freddie Mac to lower their borrowing...1995 stock rallies of Fannie Mae and Freddie Mac. As of Monday, Fannie...
- Freddie Mac, Fannie Mae Honored by Minority-Owned Businesses.
- Magazine article from: National Mortgage News Link, Monica May 23, 2005 700+ words
DETROIT -- Freddie Mac and Fannie Mae landed spots among DiversityBusiness...000 business people. Freddie Mac landed the 45th spot while Fannie Mae camped out at No. 31...it to the top 50. "Freddie Mac and Fannie Mae have pretty high ratings...
- Fannie Mae Catches Up to Freddie Mac in Serving the Thrift Industry.
- Magazine article from: National Mortgage News March 4, 2002 700+ words
...ACB survey shows that Fannie Mae easily beat Freddie Mac when it came to the...564.9 million to Freddie Mac. Fannie Mae reaped most of its loan...billion in assets. Fannie Mae also led Freddie Mac in the smallest asset...
- FANNIE MAE FREDDIE MAC ANNOUNCE U.S. HOME VALUES INCREASED 3.6 PERCENT IN 1994;...
- Press release article from: PR Newswire February 2, 1995 700+ words
...year. According to the Fannie Mae/Freddie Mac Conventional Mortgage Home...the last five years. The Fannie Mae/Freddie Mac Conventional Mortgage Home...quarter by Fannie Mae and Freddie Mac. Fannie Mae and Freddie ...
- Freddie Mac and Fannie Mae Announce Enhancements to Risk Management, Capital...
- Press release article from: PR Newswire October 19, 2000 700+ words
...intended to ensure that Freddie Mac and Fannie Mae remain among the world...financial institutions. Fannie Mae and Freddie Mac are two of the largest...enhancements announced by Freddie Mac and Fannie Mae are attached. Freddie...
- Fannie Mae, Freddie Mac Stir Furor With Tax Ads
- Newspaper article from: The Washington Post Jerry Knight; Maryann Haggerty February 15, 1996 700+ words
Fannie Mae and Freddie Mac, the two private corporations...causing massive losses for Fannie Mae, Freddie Mac and other lenders. Flat tax...election," said Cheryl Reagan of Freddie Mac. Fannie Mae spokesman John Buckley said...
