Fannie Mae CEO visits investors in Asia, Europe
WASHINGTON (Reuters) - Daniel Mudd, Chief Executive of Fannie Mae <FNM.N>, the largest U.S. home funding company, is taking a multi-day visit to investors in Asia and Europe, a spokesman said on Monday.
Fannie Mae and Freddie Mac <FRE.N>, its mortgage-finance cousin, reported multibillion dollar losses in the fourth quarter led by failing home loans.
Asian investors traditionally have had a strong appetite for debt issued by the two government-sponsored enterprises and the companies have recently heard calls from policy-makers to pad their capital reserves.
Last week, Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson both said Fannie Mae and Freddie Mac could do more to stabilize the mortgage finance market if the were to raise fresh capital.
"With few alternative mortgage channels today, such action would be highly beneficial to the economy," Bernanke said in an address to bankers.
A Fannie Mae spokesman said Mudd's trip was a regular, annual meeting with overseas investors.
(Reporting by Patrick Rucker; Editing by Andrea Ricci)