Saturday, August 9, 2008

Fannie Takes $2.3B Loss; Nixes Alt-A Purchases

Fannie Mae has reported a $2.3 billion loss for the second quarter, up slightly from $2.2 billion in the first quarter, and the mortgage giant said it will cut its dividend to 5 cents and stop purchasing alternative-A mortgages later this year. Read more...

Fannie Sees No Revenue Boost in 2nd Half

Despite raising its loan fees and pricing several times this year, Fannie Mae says it does not expect to see an increase in revenues in the second half and is beginning to see the Federal Housing Administration take away some of its business.

No comments: