Fannie Mae Quarterly Loss of $29 Billion Includes $21.4 Billion Tax Credit Write Off.

Fannie Mae has reported a $29 Billion quarterly loss for the quarter that ended Sept. 3oth.

Housing Wire story HERE provides the details, which include write off of $21.4 Billion related to tax credits, most of which were Low Income Housing tax credits. Filings also indicate that Fannie may run out of cash by end of this quarter, requiring injection of cash from the Fed.

As i indicated in an earlier post I don't know what implications, if any, the tax credit write offs have for individual LIHTC projects.