First Horizon National (FHN) is adequately reserved to cover all buyback requests from Fannie Mae and Freddie Mac, Bryan Jordan, its president and chief executive, said Tuesday.

The Memphis company took a $272 million charge in the second quarter and at the end of the third quarter it had reserves of $292 million. Meanwhile it expects to buy back fewer soured loans this quarter from the government-sponsored enterprises than it has in previous quarters.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.