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Freddie Mac/Fannie Mae Report Losses; Seek More Aid
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Freddie Mac/Fannie Mae Report Losses; Seek More Aid
The Easy Way to Shop For a Mortgage Loan
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Receive Multiple Offers. Save Money.
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Freddie Mac/Fannie Mae Report Losses; Seek More Aid
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February 25, 2011 (Shirley Allen)
mortgage-burning-money-image
Freddie Mac and Fannie Mae both released their financial results for the 4th quarter of 2010 with Freddie Mac reporting a loss of $113 million for the quarter and Fannie Mae reporting a loss of $2.1 billion. Freddie Mac reports that they would have actually earned $1.2 billion had it not been for a required payment of $1.6 billion to the Treasury.

For the full-year 2010, Freddie Mac’s total comprehensive income was $282 million, consisting of a full-year net loss of $14.0 billion which was more than offset by an increase in AOCI (net of taxes) of $14.3 billion. The company had a net worth deficit of $401 million at December 31, 2010 due to several contributing factors, including its quarterly dividend payment, which exceeded total comprehensive income for the fourth quarter.

Because of Freddie Mac’s net worth deficit, they reported that they will be asking its conservator, the Federal Housing Finance Agency (FHFA), to request a $500 million draw on the Treasury.

Fannie Mae reported a loss of $21.7 billion for 2010. They also asked for an additional $2.6 billion from FHFA, which was slightly more than their third quarter assistance of $2.5 billion.

The government rescued Fannie Mae and Freddie Mac in September 2008 to cover their losses on soured mortgage loans. It estimates the bailouts will cost taxpayers as much as $259 billion.

An addition to its financial results, Freddie Mac also reported the following:

– New single-family business acquired in 2009 and 2010 continues to demonstrate strong credit quality based on borrower credit scores and loan-to-value ratios.

– Single-family serious delinquency rate of 3.84 percent at December 31, 2010 remains below industry benchmarks.

– Freddie Mac continues to lead efforts to allow borrowers to keep their homes, helping more than 275,000 borrowers avoid foreclosure during 2010, more than double the number of borrowers it helped in 2009.

And in addition to its financial results, Fannie Mae also reported:

– During 2010, Fannie Mae guaranteed or purchased an estimated $856 billion in loans, which includes approximately $217billion in delinquent loans purchased from its single-family mortgage-backed securities trusts.

– Continued to be the largest single issuer of mortgage-related securities in the secondary market in 2010, with anestimated market share of new single-family mortgage-related securities of 44.0 percent.

– Financed approximately 2,712,000 single-family conventional loans, excluding delinquent loans purchased from its MBStrusts, and approximately 306,000 units in multifamily properties in 2010.

Tags: Freddie Mac, Fannie Mae, FHFA, financial results, net worth deficit, mortgage loans, loan-to-value ratios, credit scores

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February 25, 2011 (Shirley Allen)
mortgage-burning-money-image
Freddie Mac and Fannie Mae both released their financial results for the 4th quarter of 2010 with Freddie Mac reporting a loss of $113 million for the quarter and Fannie Mae reporting a loss of $2.1 billion. Freddie Mac reports that they would have actually earned $1.2 billion had it not been for a required payment of $1.6 billion to the Treasury.

For the full-year 2010, Freddie Mac’s total comprehensive income was $282 million, consisting of a full-year net loss of $14.0 billion which was more than offset by an increase in AOCI (net of taxes) of $14.3 billion. The company had a net worth deficit of $401 million at December 31, 2010 due to several contributing factors, including its quarterly dividend payment, which exceeded total comprehensive income for the fourth quarter.

Because of Freddie Mac’s net worth deficit, they reported that they will be asking its conservator, the Federal Housing Finance Agency (FHFA), to request a $500 million draw on the Treasury.

Fannie Mae reported a loss of $21.7 billion for 2010. They also asked for an additional $2.6 billion from FHFA, which was slightly more than their third quarter assistance of $2.5 billion.

The government rescued Fannie Mae and Freddie Mac in September 2008 to cover their losses on soured mortgage loans. It estimates the bailouts will cost taxpayers as much as $259 billion.

An addition to its financial results, Freddie Mac also reported the following:

– New single-family business acquired in 2009 and 2010 continues to demonstrate strong credit quality based on borrower credit scores and loan-to-value ratios.

– Single-family serious delinquency rate of 3.84 percent at December 31, 2010 remains below industry benchmarks.

– Freddie Mac continues to lead efforts to allow borrowers to keep their homes, helping more than 275,000 borrowers avoid foreclosure during 2010, more than double the number of borrowers it helped in 2009.

And in addition to its financial results, Fannie Mae also reported:

– During 2010, Fannie Mae guaranteed or purchased an estimated $856 billion in loans, which includes approximately $217billion in delinquent loans purchased from its single-family mortgage-backed securities trusts.

– Continued to be the largest single issuer of mortgage-related securities in the secondary market in 2010, with anestimated market share of new single-family mortgage-related securities of 44.0 percent.

– Financed approximately 2,712,000 single-family conventional loans, excluding delinquent loans purchased from its MBStrusts, and approximately 306,000 units in multifamily properties in 2010.

Tags: Freddie Mac, Fannie Mae, FHFA, financial results, net worth deficit, mortgage loans, loan-to-value ratios, credit scores

FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
HOW
LOANRATEUPDATE
WORKS
Whether you're looking to refinance your current loan, purchasing a new home or looking for a home equity loan, we make it easy at LoanRateUpdate. Our questionnaire is simple and quick to use and your information is safely transmitted to us with SSL encryption. With just two minutes of your time, you could have multiple lenders competing for your business which could save you thousands.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.

February 25, 2011 (Shirley Allen)
mortgage-burning-money-image
Freddie Mac and Fannie Mae both released their financial results for the 4th quarter of 2010 with Freddie Mac reporting a loss of $113 million for the quarter and Fannie Mae reporting a loss of $2.1 billion. Freddie Mac reports that they would have actually earned $1.2 billion had it not been for a required payment of $1.6 billion to the Treasury.

For the full-year 2010, Freddie Mac’s total comprehensive income was $282 million, consisting of a full-year net loss of $14.0 billion which was more than offset by an increase in AOCI (net of taxes) of $14.3 billion. The company had a net worth deficit of $401 million at December 31, 2010 due to several contributing factors, including its quarterly dividend payment, which exceeded total comprehensive income for the fourth quarter.

Because of Freddie Mac’s net worth deficit, they reported that they will be asking its conservator, the Federal Housing Finance Agency (FHFA), to request a $500 million draw on the Treasury.

Fannie Mae reported a loss of $21.7 billion for 2010. They also asked for an additional $2.6 billion from FHFA, which was slightly more than their third quarter assistance of $2.5 billion.

The government rescued Fannie Mae and Freddie Mac in September 2008 to cover their losses on soured mortgage loans. It estimates the bailouts will cost taxpayers as much as $259 billion.

An addition to its financial results, Freddie Mac also reported the following:

– New single-family business acquired in 2009 and 2010 continues to demonstrate strong credit quality based on borrower credit scores and loan-to-value ratios.

– Single-family serious delinquency rate of 3.84 percent at December 31, 2010 remains below industry benchmarks.

– Freddie Mac continues to lead efforts to allow borrowers to keep their homes, helping more than 275,000 borrowers avoid foreclosure during 2010, more than double the number of borrowers it helped in 2009.

And in addition to its financial results, Fannie Mae also reported:

– During 2010, Fannie Mae guaranteed or purchased an estimated $856 billion in loans, which includes approximately $217billion in delinquent loans purchased from its single-family mortgage-backed securities trusts.

– Continued to be the largest single issuer of mortgage-related securities in the secondary market in 2010, with anestimated market share of new single-family mortgage-related securities of 44.0 percent.

– Financed approximately 2,712,000 single-family conventional loans, excluding delinquent loans purchased from its MBStrusts, and approximately 306,000 units in multifamily properties in 2010.

Tags: Freddie Mac, Fannie Mae, FHFA, financial results, net worth deficit, mortgage loans, loan-to-value ratios, credit scores

Home Buying Tips
Home Selling Tips
About
Mortgages
HOW
LOANRATEUPDATE
WORKS
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
ADVANTAGES OF USING
LOANRATEUPDATE
FAST & EASY. DATA ENCRYPTED
Applying to multiple lenders is fast and easy with our one simple questionnaire. Choose the product you’re looking for, take a few moments to answer a few questions and you’re on your way to saving.
NO OBLIGATION. NO HIDDEN FEES
Any of the services on our website are 100% free, there is no obligation to use our services or any hidden fees. We’re not loan brokers so we don’t charge broker fees like other websites.
NO SSN OR CREDIT
CHECK
No SSN or credit check is necessary to use our services. We bring lenders to you so they can compete for your business and you save. That information only becomes necessary after you choose a lender.