May 8th, 2009
12:05 PM ET
6 years ago

Fannie loses $23 billion, seeks more U.S. aid

NEW YORK (CNNMoney.com) - Fannie Mae, the troubled mortgage finance company, reported a first-quarter loss of $23.2 billion on Friday.

The mortgage giant also reported that it submitted a request for $19 billion from the Treasury Department to cover its losses. That followed a request earlier this year for $15.2 billion to cover 2008 losses.

It also said Treasury has doubled its support level to the company to $200 billion, as President Obama had authorized.

In its quarterly release, Fannie Mae said its entire mortgage portfolio was experiencing increases in delinquency and default rates. It blamed the rise in unemployment, falling home prices and the revaluation of homes in the wake of the economic downturn.

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Filed under: Treasury
soundoff (31 Responses)
  1. Independent-Gurnee, IL

    Answer to this request is a firm NO!

    May 8, 2009 04:16 pm at 4:16 pm |
  2. jm for sc

    I request about $15,000.00 from the goverment to cover some of the loss of my 401K.

    May 8, 2009 04:16 pm at 4:16 pm |
  3. Kurt C.

    Fannie Mae, run by Democrats, and the administration is now populated by former Fannie and Freddie execs.

    What a Democratic abortion.

    May 8, 2009 04:37 pm at 4:37 pm |
  4. Ray

    and they still got their bonuses!!!! but none of you liberal freaks said a word isn't that funny . you liberals make me sick but im so gratefully for you because you acorn barney frank freaks will be the death of the party of hate. enjoy it while it last with your 1 term liberal pres.

    May 8, 2009 07:44 pm at 7:44 pm |
  5. Keith in Austin

    Don't give our hard-earned tax dollars to them Barry! Somehow I know you will though.

    May 8, 2009 09:06 pm at 9:06 pm |
  6. mark

    Fannie Mae should be closed down. Its a bleeding pig that has no future..With no jobs in site and no money available who the devil will borrow???? This is what the shell of this government will look like when all the money is gone and soon!.!

    May 8, 2009 11:04 pm at 11:04 pm |
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