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Seattle FHLB Exhausts Retained Earnings, Posts Loss

By DIANA GOLOBAY

Federal Home Loan Bank of Seattle late Monday announced a fourth-quarter loss of $241.2 million and a full-year net loss of $199.4 million, compared with a net income of $18.6 million and $70.7 million in the fourth quarter and full-year 2007. Private-label mortgage-backed securities drove $304.2 million in charges for the year. These “other-than-temporary” charges, although [...]

Full post as published by Housing Wire on March 10, 2009 (boomark / email).