FNM: Fannie reports $2.1bn loss for 2007

Fannie reports $2.1bn loss for 2007

Fannie Mae announced its fourth-quarter and full-year results from 2007 on February 27, 2008. For the year, net revenues were down 7% to $10.9 billion, and Fannie reported a net loss of nearly $2.1 billion for the year. Fourth-quarter results were largely responsible for the drag on the year's performance; Fannie lost $3.55 billion in the fourth quarter, a record. Fannie officials say that most of the losses stemmed from their belief that falling interest rates would cause mortgage values to rise once again, which failed to happen in the fourth quarter.

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