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Home » Store » Taxable » Gulf Storms Expected to Cost GSEs Plenty

Gulf Storms Expected to Cost GSEs Plenty

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GSE officials are still crunching the numbers, but it looks like Hurricane Katrina and Hurricane Rita could take almost a billion dollars out of Fannie Mae’s and Freddie Mac’s earnings. Fannie told investors late last week that it expected after-tax losses of between $250 million and $550 million due to the two hurricanes that ravaged the Gulf Coast region in August and September. Freddie estimated it will take a loss of $150 million and $300…
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