Global 500 rank: 161
2007 loss ($ millions): $2,050
The financial impact of rising mortgage defaults, falling home prices and credit market disruption caused Fannie Mae to lose $2.1 billion in 2007, compared with a profit of $4.1 billion in 2006. Credit-related expenses increased more than fivefold.
And the worst might not be over yet. But Fannie is committed to damage control in 2008. The company plans to increase and conserve its capital base, limit credit losses and increase credit-loss reserves to move through another tough year.
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