Fannie Mae seeks $10.7 billion in new US aid


	Fannie Mae seeks $10.7 billion in new US aid

jay8h

8-6-2009 7:26 PM

99 views

jay8h says:

"High-risk loans, now defaulting at a record pace, have come back to haunt the companies."

The results of the government trying to provide everyone with the "American Dream".

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/001702bd-c14d-42bd-babb-b7fc400fce61/5BBEA9A3-C359-44EE-AF66-A3B35A2C2BBC/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10" href="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10" style="font-size: 11px;">finance.yahoo.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10"><H2>Fannie Mae seeks $10.7 billion in new US aid after posting $15.2 billion second-quarter loss </H2></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10"><P>WASHINGTON (AP) -- Fannie Mae is seeking nearly $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10"><P>"We are dependent on the continued support of Treasury in order to continue operating our business," Fannie Mae said in a Securities and Exchange Commission filing late Thursday.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10"><P>Fannie Mae's new request for $10.7 billion from the Treasury Department will bring the total for Fannie and Freddie to nearly $96 billion. Freddie is expected to report its quarterly results on Friday.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://finance.yahoo.com/news/Fannie-Mae-seeks-107B-in-US-apf-3979081619.html?x=0&.v=10"><P>The two companies lowered their standards for borrowers during the real estate boom and are reeling from the bust. High-risk loans, now defaulting at a record pace, have come back to haunt the companies. Worse still, the recession is causing formerly reliable homeowners with good credit to default.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/5BBEA9A3-C359-44EE-AF66-A3B35A2C2BBC/blog/" title="blog or email this clip"><img src="http://content9.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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