Rising Non-Agency OTTI, Credit Expenses Help Put Another Hole in the Hull of the USS Fannie Mae
March 5, 2010
Fannie Mae reported a leap in other-than-temporary impairment charges for its non-agency MBS holdings during the fourth quarter as the government-sponsored enterprise lost $15.2 billion during the period, its 10th consecutive losing quarter, on the way to losing $72.0 billion for the entire year. Net OTTI was $2.5 billion in the fourth quarter, compared with $939 million in the third...