(Reuters) – Mortgage finance giant Fannie Mae said it would
ask for an additional $5.1 billion from taxpayers as it continues to suffer
losses on loans made prior to 2009.
The largest U.S. residential mortgage funds provider on Friday also reported
a second-quarter net loss attributable to common shareholders of $5.2 billion,
or 90 cents per share.
Including the latest funding request, Fannie Mae has needed $104 billion in
government capital injections since the U.S. Treasury seized control of it in
2008 during the financial crisis. Fannie Mae has paid back $14.7 billion in
dividends.
Fannie said in a statement that its second-quarter loss “reflects the
continued weakness in the housing and mortgage markets, which remain under
pressure from high levels of unemployment, underemployment and the prolonged
decline in home prices since their peak in the third quarter of 2006.”
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