WASHINGTON, May 9th, 2012 - Thanks to his benefit carried out during the first quarter, the American giant of the financing of the Fannie Mae real estate will not need more the subsidy of the Federal state.
The clear benefit of 2,7 billion dollars of Fannie Mae enables him to pay the dividends which it owes with the American Treasury. Whereas during the preceding exercise it recorded a loss of 8,7 billion dollars.
The American Treasury placed a sum of 116,1 billion dollars in this company in order to avoid its bankruptcy. This was done since its setting under public supervision in September 2008. The American treasure also bought preferential shares to him.
The goal of the activities of Fannie Mae is to make it possible to the private individuals to easily reach the property while standing as guarantor or by repurchasing real loans.
The current results are the fruit of work and the progress made since the year 2009. A rise of the financial performance as well as a limitation of the losses on the activities resulting from the crisis period were observed according to the statements made by Michael Williams, managing director.
This company took an enormous risk, because it is at the worst time, during the crisis of the sector of the real estate in 2006 qu' it launched out in the real estate credits. For a few years, Fannie Mae has wanted to audit its assessment, however it will have first of all to make enormous provisions for loss quarter after quarter. It is towards end of the year 2001 that these provisions reached their highest level with 5,5 billion.
The company counts on financial results 2012 better than those carried out in 2011, because a loss of 16,9 billion dollars was observed during last year on the whole of the exercise.
During the first three months of this year the losses in the credit knew a significant decrease with in particular the passing of the rates of delays of payment and of the sale of goods seized at competitive prices compared to the market and of the stabilization of the prices of the residences Mr. Williams declared. |
