
Fannie Mae Seeks .1bn More From Taxpayers
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Missing Money
Articles and video discussions of the $21 Trillion dollars missing from the U.S. government
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Fannie Mae Seeks $5.1bn More From Taxpayers
WASHINGTON (Reuters) – Mortgage finance giant Fannie Mae said it would ask for an additional $5.1 billion from taxpayers as a weaker housing market causes continued losses on loans made prior to 2009.
The largest U.S. residential mortgage funds provider on Friday also reported a second-quarter net loss attributable to common shareholders of $5.2 billion, or 90 cents per share.
It forecast continued weakness ahead, with high unemployment and foreclosures expected to put more downward pressure on home prices.
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