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S&P Credit Research7700 word report
published Nov 26, 2008
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$400.00 available for immediate download
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S&P Credit Research
| Abstract: | Critical public-policy role in the U.S. mortgage market U.S. Treasury oversight and support for debt and mortgage-backed securities (MBS) issues Geographic diversification and strong market position Mortgage credit losses will likely exceed historic highs Earnings volatility driven by market disruption charges and higher credit expenses Weak capital levels on a managed basis Operating under a regulatory conservatorship Standard&Poor's Ratings Services' ratings on Fannie Mae reflect its public-policy role of providing liquidity and financing to the U.S. mortgage market, and the congressional charter that defines its business. Specifically, the senior unsecured debt ratings reflect the explicit government support under the U.S. Treasury's establishment of a senior preferred stock purchase agreement and liquidity support programs to be used as needed.
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| Brief Excerpt: | RESEARCH Ratings Definitions Fannie Mae Publication date: 26-Nov-2008 Primary Credit Analyst: Victoria Wagner, New York (1) 212-438-7406; victoria_wagner@standardandpoors.com Secondary Credit Analyst: Daniel E Teclaw, New York (1)...
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| Report Type: | Full Report
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| Ticker: | FNM
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| Issuer: | Fannie Mae
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| GICS: | Thrifts & Mortgage Finance (40102010)
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| Sector: | Asset-Backed Securities, Commercial MBS, Financial Institutions, Global Issuers, Public Finance, Residential MBS, Structured Finance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Bulletin: Fannie Mae Ratings Unaffected By Reported $15 Billion Second-Quarter Loss $100.00
NEW YORK (Standard&Poor's) Aug. 7, 2009--Standard&Poor's Ratings Services said today that its ratings on the Federal National Mortgage Association (Fannie Mae; 'AAA/Stable') remain unaffected by the company's large $14.8 billion loss reported ...
- Summary: Fannie Mae $175.00
On May 8, 2009, Fannie Mae reported a sizable loss of $23.2 billion for first-quarter 2009 due largely to credit expenses of $20.9 billion and an incremental $5.7 billion of other-than-temporary impairment (OTTI) primarily on its private-label ...
- Summary: Fannie Mae $175.00
Fannie Mae's $25.2 billion fourth-quarter 2008 loss does not affect Standard&Poor's Ratings Services' ratings on the entity (senior unsecured debt: AAA/Stable/A-1+; subordinated debt: 'A'; and preferred stock: 'C') because of the continued ...
- Bulletin: U.S. Treasury Expands Senior Preferred Stock Purchase Agreement With Fannie Mae And Freddie Mac; No Impact On Ratings $100.00
NEW YORK (Standard&Poor's) Feb. 20, 2009--The U.S. Treasury announced on Feb. 18, 2009, that it is expanding its senior preferred stock purchase agreement with government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac to $200 billion ...
- Bulletin: Fannie Mae Ratings Unaffected By Potential First Draw On U.S. Treasury Senior Preferred Stock $100.00
NEW YORK (Standard&Poor's) Jan. 27, 2009--On Jan. 26, 2009, Fannie Mae filed an 8-K Report with the SEC indicating that it anticipates making its first draw under the U.S. Treasury's $100 billion senior preferred stock purchase agreement. The ...
- Summary: Fannie Mae $175.00
Standard&Poor's Ratings Services' ratings on Fannie Mae reflect its public-policy role of providing liquidity and financing to the U.S. mortgage market, and the congressional charter that defines its business. Specifically, the senior unsecured ...
- Bulletin: Fannie Mae Reports $29 Billion Third-Quarter Loss; Ratings Unaffected $100.00
NEW YORK (Standard&Poor's) Nov. 10, 2008--Fannie Mae today reported a sizeable $29 billion loss in third-quarter 2008 due to its establishment of a $21.4 billion deferred tax-asset valuation allowance and a large $9.2 billion credit-loss provision. ...
- Fannie Mae Subordinated Debt Rating Raised To 'A', Off CreditWatch $100.00
NEW YORK (Standard&Poor's) Nov. 5, 2008--Standard&Poor's Ratings Services said today that it raised its subordinated debt rating on Fannie Mae to 'A' from 'BBB+' and removed the rating from CreditWatch Positive where it was placed Sept. 7, ...
