Fannie Mae Losses $2.2 in First Quarter!

"Loans gone bad, and those on the way, put Fannie Mae $2.2 billion in the red last quarter. The Washington, D.C.-based mortgage giant announced Tuesday a $2.2 billion loss in the first quarter ended March 31, compared to a $961 million profit a year ago. On a diluted share basis, Fannie Mae lost $2.57 versus earnings of 85 cents a year ago."

Times are a changing! Your best friend at this point should be your clients lender. Even the ones I work with are dealing with new rules and regulations. Belts are tighter! More hoops to jump! But I am in this for the long haul and am willing to change with the industry.

Is everyone feeling this unpleasant squeaze? Do you think Fannie Mae will impose tighter restrictions than those recently put in place?

 
Posted by Beth Camp on 05/06/2008 01:28 PM   Comments (4)   , , ,  
Post is included in group: Century 21 Active Rainers
Post is included in group: LDS Agents

4 Comments on Fannie Mae Losses $2.2 in First Quarter!

They aren't easing up thats for sure. We are doing more FHA's and USDAs

05/06/2008 01:31 PM by Charlie Ragonesi Big Canoe Realestate Jasper,Ellijay,Ball Ground,Benttree (All Mountain Realty)

Lenders are definately in a JAM, but the key is keeping the agents that send them business on a normal basis in the loop as to how the changes will affect deals that are about to turn into contracts.  I am finding that alot of them are avoiding calls and emails rather than just telling the truth, the industry changes every week!

05/06/2008 01:36 PM by Marc Baysek-EXIT Realty Rockingham NC (EXIT Realty Platinum)

Hi Beth;

Things are changing, rules are getting tighter and we all should make adjustmet.

05/06/2008 02:04 PM by Anthony Stokes-Pereira (Prudential Rand Realty)

Yes, I think things will continue to get tighter for a while -

Checkout our new blog site and tell me what you think -  We are new to this too.

http://www.thecenturytreereader.com/

05/06/2008 10:42 PM by Susan Hilton College Station,Texas Real Estate (CENTURY 21 Beal, Inc.)

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Real Estate Agent: Beth Camp (Century 21 Adams-Walker)
Beth Camp
Concord, GA
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Century 21 Adams-Walker

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Deep (and not so deep!) thoughts of a Realtor in the Greater Griffin/Zebulon/Barnesville/Thomaston, GEORGIA Area!

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