Fannie Mae, "request the assistance of 15 billion dollars from the U.S. government
Fannie Mae Foundation announced the U.S. giant mortgage finance plan to seek new financial support from the federal government U.S. $ 15 billion after it continued losses for the ninth consecutive quarter.
Fannie Mae reported that its losses during the third quarter of this year hit 18.9 billion dollars against a loss of $ 14.8 billion dollars during the second quarter of the year.
They attributed the institution on the verge of bankruptcy last year before being pumped to the U.S. government tens of billions of dollars in losses to the arrival of borrowing costs to $ 22 billion, including securities that forced the company to modify the structure of purchased with loans in accordance with the plan the administration of President Barack Obama to prevent bankruptcy.
The news agency Bloomberg reported economic Fannie Mae statement addressed to the Capital Market Authority, the U.S. saying, "We rely on the continued support of the Ministry of the Treasury in order to continue our work."
The company said it sold tax exemptions untapped $ 2.6 billion.
The Fannie Mae and rival Freddie Mac possess or guarantee about half of mortgage loans in the U.S. market and have been heavy losses against the backdrop of real estate and financial crisis in the United States.
Has been developed by Fannie Mae and Freddie Mac under government control in September of this year and formed the core of Barack Obama's plan to rescue the mortgage finance sector. The government acquired 79.9 percent of the shares of both companies in exchange for aid at a value of $ 200 billion
Fannie Mae reported that its losses during the third quarter of this year hit 18.9 billion dollars against a loss of $ 14.8 billion dollars during the second quarter of the year.
They attributed the institution on the verge of bankruptcy last year before being pumped to the U.S. government tens of billions of dollars in losses to the arrival of borrowing costs to $ 22 billion, including securities that forced the company to modify the structure of purchased with loans in accordance with the plan the administration of President Barack Obama to prevent bankruptcy.
The news agency Bloomberg reported economic Fannie Mae statement addressed to the Capital Market Authority, the U.S. saying, "We rely on the continued support of the Ministry of the Treasury in order to continue our work."
The company said it sold tax exemptions untapped $ 2.6 billion.
The Fannie Mae and rival Freddie Mac possess or guarantee about half of mortgage loans in the U.S. market and have been heavy losses against the backdrop of real estate and financial crisis in the United States.
Has been developed by Fannie Mae and Freddie Mac under government control in September of this year and formed the core of Barack Obama's plan to rescue the mortgage finance sector. The government acquired 79.9 percent of the shares of both companies in exchange for aid at a value of $ 200 billion
-
- Share:
-
-
-
-
-
-
Reach -
Credibility
-
READ MORE:
News Stories
>
- News Source: The New York Times | 11 days agoSeptember was “significantly ahead” of the year-earlier period after loan provisions declined, without giving any further details...Asia and benefited from its exposure to emerging markets during the recession, which more than compensated for...
- News Source: Associated Press | 12 days agoFannie Mae said Monday it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion in tax credits. The Treasury Department last week blocked Fannie Mae from selling about $2.6 billion in low-income...
- News Source: Palm Beach Post | 12 days agoGovernment controlled mortgage provider Fannie Mae said Monday the U.S. Treasury has blocked its plans to sell more than $5 billion in low-income housing tax credits. In a regulatory filing Monday, Fannie Mae, formally known as Federal National...
- News Source: The Daily Telegraph | 12 days agoDuring the local session, the unit traded between $US0.9198 and $US0.9241. Nomura Australia chief economist Stephen Roberts said the local dollar held above 92 US cents after starting the local session in a strong position. The continued strength of...
- News Source: Houston Chronicle | 14 days agoFreddie Mac's losses narrowed to $6.3 billion in the third quarter, but the government-controlled mortgage finance company didn't need a federal cash infusion...The McLean, Va.-based company has received about $51 billion since it was seized by...
- News Source: Independent | 14 days agoFannie Mae, the loss-making mortgage-finance company seized by regulators, said it has $15.8bn (€10.7bn) in claims against bankrupt securities firm Lehman Brothers that it will at best partially recover. "Based on Lehman Brothers' financial...
Blogs
>
- Blog Source: www.washingtonexaminer.comFannie Mae and Freddie Mac play a vital role in the mortgage market by purchasing loans from banks and selling them to investors. Together, Fannie and Freddie own or guarantee almost 31 million home loans worth about $5.5 trillion. ...
- Blog Source: www.dailyfinance.comThe government has essentially been running Fannie Mae and Freddie Mac since September 2008 after it moved to keep the mortgage lenders from going bankrupt. The $5 trillion in home loans they're responsible for made them too big to fail ...
- Blog Source: onesobservations.blogspot.com"Together, the TARP and its cousin, the bailout of Fannie Mae and Freddie Mac, still amount to $400.3 billion. We continue to track this amount in our frequently updated database. Each month, we provide an overview of the bailouts: how ...
- Blog Source: www.nashuatelegraph.comFannie Mae's sibling company, Freddie Mac, launched a similar effort in March. That policy, however, requires the foreclosure to be complete and only allows month-to-month leases. A Freddie Mac spokesman declined to say how many ...
- Blog Source: www.realestaterama.comWashington, DC - July 15, 2009 - (RealEstateRama) — Federal Housing Finance Agency Director James B. Lockhart today released FHFA's latest Foreclosure Prevention Report detailing actions taken by Fannie Mae and Freddie Mac to prevent ...
Images
>
-
Image Source: www.abc.net.au -
Image Source: washingtonindepende...Spokesmen for Fannie Mae and ...Image Source: washingtonindepende...Spokesmen for Fannie Mae and Freddie ... -
Image Source: primecreditfunding.... -
Image Source: www.televisioninter...Fannie Mae Freddie Mac ...Image Source: www.televisioninter...Fannie Mae Freddie Mac Government ... -
Image Source: images.huffingtonpo... -
Image Source: www1.whdh.com
Videos
>
-
Video Source: www.truveo.comGovernment plans to take over ...Video Source: www.truveo.comGovernment plans to take over mortgage companies Fannie Mae and Freddie ... - Video Source: www.truveo.com
- Video Source: www.truveo.comGovernment prepared to take ...Video Source: www.truveo.comGovernment prepared to take action on Fannie Mae and Freddie Mac
- Video Source: www.truveo.com
- Video Source: www.truveo.comBeck conspiracy theory: U.S. ...Video Source: www.truveo.comBeck conspiracy theory: U.S. government to seize land through Fannie Mae ...
- Video Source: www.truveo.comCATO Inst. Panel on Fannie Mae ...Video Source: www.truveo.comCATO Inst. Panel on Fannie Mae and Freddie Mac
Post a Comment Comments: 1
Reported by mohammedd
Related Allvoices Contributions
-
By: pollard
Report: Letter to all politicians in Washington
5 days ago
Cell phones use report code: Most Popular Reports
Related Tweets
-
@JohnAByrne News meeting: Little surprise that tomorrow's lead story is "HP Will Pay $2.7 Billion for 3Com"
9 days ago -
@davidjoachim RT @nytimes: Hewlett-Packard to Acquire 3Com for $2.7 Billion http://bit.ly/SSCIn
9 days ago -
@ldignan Posted on BTL: HP announces $2.7 billion acquisition of 3Com; raises outlook http://bit.ly/499b0y
9 days ago -
@markknoller WH thanksJapan for pledge of $5-billion in aid over 5 years to Afghanistan and $1-billion in econ assistance to Pakistan.
10 days ago
Related Allvoices Reports
Related People
Site Links
Site Topics
Contributions
- Report Your News
- Add your voice and contribute via your cellphone - check out how to Report News via Your Cellphone
- Blog Widget
- Widget for Blog Owner
