Fannie Mae Seeks Additional Funding After Q1 $13.1 Billion Loss
This morning, Fannie Mae -- a government-sponsored enterprise that buys mortgages on the secondary market and that made $72 billion in losses last year --
Jul 31, 202086.2K Shares1.1M Views
This morning, Fannie Mae — a government-sponsored enterprise that buys mortgages on the secondary market and that made $72 billion in losses last year— reporteda first-quarter loss of $13.1 billion. The company, under a governmental conservatorship, said it would seek $8.4 billion from the Treasury.
The company notes: “Due to current trends in the housing and financial markets, we continue to expect to have a net worth deficit in future periods, and therefore will be required to obtain additional funding from Treasury pursuant to the senior preferred stock purchase agreement.”
Rhyley Carney
Reviewer
Latest Articles
Popular Articles