May 10th, 2010
08:58 AM ET
5 years ago

Fannie asks for another $8.4 billion

New York (CNNMoney.com) – Fannie Mae requested another $8.4 billion from the federal government on Monday, saying that due to trends in the housing and financial markets, the company expects its deficits to continue.

The government-controlled mortgage giant announced Monday that it lost $13.1 billion applicable to common shareholders in the first quarter of 2010.

The request cames just four days after Fannie's twin Freddie Mac also asked for a handout - to the tune of $10.6 billion - after posting an $8 billion quarterly loss.

In using Fannie and Freddie to prop up the mortgage market, the government in December lifted a $200 billion limit on their bailouts, essentially giving the twin housing lenders a blank check. Fannie Mae has already received $76.2 billion from the federal government and Freddie has gotten $50.7 billion.

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Filed under: Fannie Mae
soundoff (28 Responses)
  1. Sinker

    Let em sink. No more money should be poured into this rat hole. And for gosh sakes don't let barney or chris be in charge of it.

    May 10, 2010 10:42 am at 10:42 am |
  2. jeff jackson, alabama

    Government controlled Freddie
    and Fannie was the cause for our
    financial chaos. GM and other
    companies were hurt by these
    failures. Those other companies
    deserve bailouts. How in the world
    do the two companies that caused
    the stir deserve anything. And why
    is Frank and Dodd not on trial?

    May 10, 2010 10:44 am at 10:44 am |
  3. Michael Armstrong Sr.

    This makes me mad as hell the government can bail out Greece and Fannie but it can not give the poor people on Social Security the stimulus that was promised screw Fannie and screw Greece this is Americas money not Co.Ops and other country's .

    May 10, 2010 10:45 am at 10:45 am |
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