The Residential Real Estate Crash Index Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : The Residential Real Estate Crash Index

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

From: Think4Yourself	5/8/2009 12:01:50 PM
	of 306849

Fannie asks for another $19 billion What a surprise. marketwatch.com{AFE51422-B5CC-4219-8319-D1F088D6B67C}&siteid=yhoof2 By Sam Mamudi Last update: 11:24 a.m. EDT May 8, 2009 NEW YORK (MarketWatch) -- Mortgage financer Fannie Mae asked for an additional $19 billion from the Treasury Department on Wednesday, the firm revealed on Friday. The request was made by the Federal Housing Finance Agency, which has been Fannie's conservator since the government took over the troubled firm in September. Fannie said the request was a result of its first-quarter loss, which led to a net worth deficit -- the amount by which total liabilities exceed assets -- of $18.9 billion as of March 31. Fannie declared a quarterly loss of $23.2 billion, or $4.09 a share. As part of Wednesday's request, Treasury's funding commitment to Fannie doubled to $200 billion. "Due to current trends in the housing and financial markets, we expect to have a net worth deficit in future periods, and therefore will be required to obtain additional funding from the Treasury," said Fannie in a statement. End of Story

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next