GO
Loading...

Enter multiple symbols separated by commas

Fannie Mae Could Need $16 Billion From Government

Mortgage finance company Fannie Mae says it's likely to need up to $16 billion from the government as conditions in the U.S. housing market continue to deteriorate.

Fannie Mae's need for $11 billion to $16 billion in taxpayer aid comes after sibling company Freddie Mac disclosed last week that it's likely to need as much as $35 billion in federal support on top of the $13.8 billion it received last year.

Fannie, which has yet to receive any government aid, is still preparing its fourth-quarter financial statements and says the actual amount needed "may differ materially from this estimate."

Fannie and Freddie were seized by federal regulators last fall. An agreement with the Treasury Department allows the government to invest up to $100 billion in each company.

_____________________________________
Calculators and Advice from Bankrate.com:

  • Compare Mortgage Rates Nationwide
  • Struggling to Save Your Home? Get Help Here

_____________________________________

Contact Real Estate

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.
  • Diana Olick

    Diana Olick serves as CNBC's real estate correspondent as well as the editor of the Realty Check section on CNBC.com.

Home prices and supply map

  • Track the latest moves in sales, prices and inventory in some of the largest housing markets across the country.

Latest Special Reports

  • Financial Advisor

    Featuring CNBC's Financial Advisor Council, this video series will aim to educate investors with straightforward financial advice.

  • Waitress tablet

    Trailblazers leveraging the power of technology and innovation to grow their business—and disrupt the competition.

  • Financial Advisor

    CNBC looks at how technology, product development, succession plans and client relations impact financial advisory firms.