THE AMERICAN JOURNAL

Fannie Seeks $15.3 Billion in Aid After 10th Loss

Feb. 26 (Bloomberg) — Fannie Mae, the mortgage-finance company under federal conservatorship, said it will seek $15.3 billion in aid from the U.S. Treasury after posting a 10th straight quarterly loss.

A fourth-quarter net loss of $16.3 billion, or $2.87 a share, pushed the company to request its fifth draw on an unlimited lifeline from the government, Washington-based Fannie Mae said in a filing today with the Securities and Exchange Commission.

Read more: Bloomberg

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February 26, 2010 - Posted by | 398 | , ,

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