Fannie, Freddie May Ask Banks to Eat $21 Billion of Sour Loans (Bloomberg)
U.S. banks could suffer losses of $7 billion this year when those loans are returned and get marked down to their true value, according to estimates by Oppenheimer & Co. analyst Chris Kotowski . Fannie Mae and Freddie Mac, both controlled by the U.S. government, stuck the four biggest U.S. banks with losses of about $5 billion on buybacks in 2009, according to company filings made in the past …
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Fannie, Freddie May Ask Banks to Eat $21 Billion of Sour Loans (Bloomberg)
