Fannie raising fees, tightening standards

Mounting losses taking toll on capital surplus

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Fannie Mae is tightening underwriting standards, increasing fees, and will stop buying newly originated alt-A loans by the end of the year, the company said in announcing a $2.3 billion quarterly loss.

The nation’s biggest financer of mortgages also said it’s opening new offices to sell real estate-owned properties in hard hit areas like California and Florida, and is bringing on new employees in loss mitigation to engage in more workouts with troubled borrowers.