Fannie Mae Seeks $7.8 Billion in Aid After Reporting Loss
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Fannie Mae, one of two mortgage companies operating under U.S. conservatorship, said it will seek $7.8 billion in Treasury Department aid after reporting a third-quarter loss.
The government-sponsored enterprise had a net loss of $5.1 billion for the three-month period that ended Sept. 30, driven by defaults on loans made before 2009 and derivative losses linked to a decline in interest rates, according to a Securities and Exchange Commission filing today.