Fannie Mae Reports Big 52% Drop In GAAP Earnings for 4th Quarter
January 17, 2003
Fannie Mae Repo rts Big 52% Drop In GAAP Earnings for 4th Quarter Despite record-breaking mortgage purchases and MBS production in the final months of last year, Fannie Mae reported this week that its earnings took a beating in the fourth quarter – at least on a GAAP reporting basis – as low interest rates battered the value of its large derivative holdings.