Fannie Mae (FNMA)

[navycmdr]

Financial condition of Fannie and Freddie prior to takeover

Over 98% of Fannie's loans were paying timely during 2008.
Both Fannie and Freddie had positive net worth as of the date
of the takeover, meaning the value of their assets exceeded
their liabilities.

As of March 31, 2009, seriously delinquent loans accounted for 2.3%
of single-family mortgages owned or guaranteed for Freddie Mac and
3.2% for Fannie Mae.

While those are historically high levels, they compare favorably to
industry averages of 4.7% for all prime loans, 7.2% for all single-family
mortgages, 24.9% for all subprime mortgages, and 36.5%
for subprime adjustable rate mortgages