Bank of America

Fannie Mae’s Alt-A Pain May Extend to BofA 

All hemming and hawing aside over a large quarterly loss at Fannie Mae [stock FNM][/stock] posted Friday — one that, it should be noted, was the result of aggressive reserving for future losses — it’s pretty clear that the GSE now faces the proverbial piper over its foray into Alt-A mortgages in the past few years. Fannie said Friday that it would exit the Alt-A business altogether by the end of the year, as a result.