* Releases fourth quarter and full-year 2009 financial results
* Says fourth quarter 2009 net loss was $6.5 billion
* Says had positive net worth of $4.4 billion at December 31, 2009
* Says full-year 2009 net loss was $21.6 billion
* Says start 2010 with some early signs of stabilization in the housing market
* Says after div payment to treasury, Q4 net loss was $2.39 per diluted common
share
* Q4 results were negatively impacted by $7.1 billion in credit-related
expenses
* Says house prices and home sales likely nearing the bottom sometime in 2010
* Says provision for credit losses for the fourth quarter of 2009 was $7.0
billion
* Low mortgage rates, relatively high affordability and the homebuyer tax
credit will help continue to fuel recovery
* Says no additional funding was required from treasury under terms of purchase
agreement for Q4
* Says at December 31, 2009, the company had a remaining net deferred tax asset
of $11.1 billion
* Says single-family serious delinquency rate, excluding structured
transactions, was 3.87% at December 31, 2009
* Says single-family net charge-offs increased to $2.4 billion in the fourth
quarter of 2009
* Says expects to request additional draws under the purchase agreement in
future periods
* Says during Q4 identified two errors in loss severity rate inputs used to
estimate single-family loan loss reserves
* Says is currently working with treasury to support the home affordable
foreclosure alternatives program
* Says these errors affected amounts previously reported
* Concluded these errors not material to previously issued financial statements
for first three quarters of 2009
* Says revised its prior reported results for the first three quarters of 2009
to correct errors
* Says increased its prior reported Q3 2009 provision for credit losses by $396
million to reflect adjustments
((Bangalore Equities Newsroom; +91 80 4135 5800; within U.S. +1 646 223 8780))
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