Shortsalenurse's HAFA Blog

August 7, 2009

Soon The Losses will Be Real, 15 Billon Dollars is real money and its Fannie Mae’s 2 Quarter Loss


White cretan windmillThe losses at Fannie Mae are adding up. Along with the news of this multi billion dollar loss there is an announcement that the head of the Federal Housing Finance Agency will be stepping down at the end of the month. The good news it that the Fannie Mae did not request the full amount of the loss, they requested just in excess of $10 billion more from the Treasury.

Fannie Mae also announced that the rate of default is rising which would lead most accountants to believe the rate and size of future Treasury Department Support will not only be necessary but will increase.

The Associated Press announced that the Obama Adminstration is going to announce some plans for Fannie Mae’s Future sometime next year.

Click here to see access a news article supportive of the contents of this story.

If you would like to search public records for Trustee Sale Dates, Notices of Default or Bank owned property in San Diego, La Mesa, El Cajon or other San Diego County Communites just click HERE.

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