Fannie Mae/Freddie Mac Lose Billions in last QTR, and much heavier losses are expected by both. Oops, looks like someone bought some bad loans...And they claim that the current housing market decline is at the mid-point with at least two more years to go...but at the same time we are still in the early stages of mortgage defaults...so will home price really drop another 25 to 35% before bottoming out mid 2010???
Fannie Mae
http://www.reuters.com/article/businessNews/idUSN0835945220080808
Freddie Mac
http://www.reuters.com/article/topNews/idUSWNAB525920080806
The Foreclosure Guy
Friday, August 8, 2008
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