NPLs Up but Loss Is Down at Fannie

Washington-Fannie Mae lost $14.8 billion during the second quarter, a smaller loss than the $23 billion it lost during the first quarter.

The conduit also has requested $10.7 billion in additional funds from the U.S. Treasury to compensate for a net-worth deficit of $10.6 billion.

Credit-related expenses, which includes provisions for credit loss plus foreclosure expenses, remained high at $18.8 billion, down slightly from $20.9 billion in the first quarter of 2009.

Revenue at the mortgage agency increased quarter to quarter, from $5.2 billion to $5.6 billion.

Guaranty fee income fell from $1.8 billion to $1.7 billion.

Nonperforming loans on its books increased to $171 billion from $145 billion.

Fannie's book of business increased slightly in the quarter, to $3.19 trillion from $3.14 trillion the previous quarter, and $3.11 trillion at year-end 2008.

Next in News ►