WASHINGTON, DC-Mortgage firm Fannie Mae has reported a loss of $3.13 billion in the second quarter of 2010 and has requested for more federal aid worth $1.5 billion.
By GlobeSt News Hub|August 06, 2010 at 01:01 AM
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WASHINGTON, DC-Mortgage firm Fannie Mae has reported a loss of $3.13 billion in the second quarter of 2010 and has requested for more federal aid worth $1.5 billion. This will be Fannie’s 12th consecutive quarterly loss including dividend payments of $1.9 billion to the Treasury Department.
Fannie Mae and Freddie Mac were weighed down by sub-prime loans and collapsed in 2008. Fannie Mae has bagged a total of $86.1 billion in federal aid including this fresh request of $1.5 billion. For the full story, go to Kansas Business Journals.
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