Fannie Mae reports $19 billion loss and asks feds for another $15 billion loan


The news just keeps getting worse at embattled mortgage finance company Fannie Mae (FNM). The Washington, D.C.-based company, which buys up mortgages from banks, posted on Thursday a staggering $18.9 billion loss -- its ninth consecutive deficit -- as it incurred more expenses stemming from foreclosed properties. The news forced the outfit, which already has a $200 billion credit facility with the U.S. government, to hit up the feds for another $15 billion, the company said in a statement.

On the plus side, Fannie Mae, which has been under government receivership since last year, said its third-quarter revenue rose 6 percent to $5.9 billion from $5.6 billion in the previous quarter, as net interest income rose.

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