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Permalink Reply by Bryant Tutas on April 28, 2010 at 10:25am

Many investors want the buyer to hold for at least 90 days. This is a requirement of the new HAFA guidelines as well. Does it make sense? Nothing makes sense any more.

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Permalink Reply by Craig Barry on April 29, 2010 at 10:02am

If you were executive management of this mess would you have a JOB? Not a pretty Picture. But we can all ask the Treasury for another 70 Billion right?

April 25, 2010
Fannie Mae 4th Quarter 2009 Loss
On February 25, 2010, the Acting Director of the Federal Housing Finance Agency, Fannie Mae's conservator, requested $15.3 billion from Treasury. FHFA asked Treasury provide funds around March 31, 2010.

Fannie Mae released 2009 fourth quarter and fiscal year-end results in March 2010, reporting a net loss of $15.2 billion for the fourth quarter, compared with a net loss of $18.9 billion for the third quarter. With $1.2 billion of dividends on senior preferred stock held by Treasury, net loss attributable to common stockholders was $16.3 billion, or ($2.87) per diluted share, in the fourth quarter, compared with a net loss of $19.8 billion, or ($3.47) per diluted share, in the third quarter of 2009.

Fannie Mae announced that, during 2009, 200,339 loan workouts were completed and 333,300 trial modifications on Fannie Mae loans initiated under the Home Affordable Modification Program. Fannie Mae got approximately 2,484,000 loans that were refinancings, with about 329,000 loans refinanced through Refi Plus initiatives, where about 104,000 loans were refinanced under the Home Affordable Refinance Program.

According to the press release, Fannie Mae stated its fourth-quarter results "were driven primarily by credit expenses, which declined from the third quarter but remained at an elevated level". The loss for the fiscal year was $72 billion, compared with a loss of $58.7 billion for 2008. With $2.5 billion dividends on senior preferred stock, the fiscal year net loss attributable to common stockholders was $74.4 billion, or ($13.11) per diluted share, compared with $59.8 billion, or ($24.04) per diluted share, for 2008.

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