Fannie Mae said on Thursday it would draw more than $15bn of assistance from the US Treasury after a sixth consecutive quarterly loss – $25.2bn in the fourth quarter – drove its net worth below zero. The mortgage financier, which predicted further losses, said in a filing that its Q4 net loss forced it to request its first instalment from a $200bn federal lifeline established for Fannie and rival Freddie Mac.

This entry was posted by Gwen Robinson on Friday, February 27th, 2009 at 4:52 and is filed under Capital markets. Tagged with Fannie Mae. Edit this entry.