Mortgage lender Fannie Mae posts nearly $19 bn loss

November 5th, 2009 Fannie Mae seeks $15 bln in US aid after 3Q lossWASHINGTON — Fannie Mae is asking for an additional $15 billion in government aid after posting another big loss in the third quarter as the taxpayer bill from the housing market bust keeps rising. The government-controlled company continued to see a dramatic surge of borrowers fall behind as the unemployment rate climbs.

November 4th, 2009 GMAC Financial Services net loss narrows in 3QNEW YORK — GMAC Financial Services, the main lender for General Motors Co. and Chrysler Group LLC, said Wednesday it lost $767 million in the third quarter, as its struggling home mortgage unit continued to weigh on its results.

October 30th, 2009 Feds taking action against reverse mortgage lenderHONOLULU — The U.S. Department of Housing and Urban Development is taking action against a reverse mortgage lender in Hawaii.

October 20th, 2009 Sallie Mae posts 3Q gain on debt repurchasesRESTON, Va. — The student lender best known as Sallie Mae is reporting a profit for the third quarter on a gain from debt repurchases and more student loan activity.

September 4th, 2009 Fannie Mae meets price listing standardWASHINGTON — Fannie Mae, the government-backed mortgage company, said Friday it regained compliance with the New York Stock Exchange's minimum price standard for listing common stock. Fannie Mae was notified on Nov.

September 2nd, 2009 Industry group proposes replacing Fannie, FreddieWASHINGTON — A mortgage industry group wants Fannie Mae and Freddie Mac replaced with private companies that would be able to issue mortgage bonds formally backed by the federal government. The Mortgage Bankers Association's proposal, released Wednesday, offers a detailed plan for how to restructure the U.S.

August 8th, 2009 Freddie Mac's loss narrows, eschews federal aidWASHINGTON — Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future. The government-controlled mortgage finance company on Friday posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

August 7th, 2009 Freddie Mac avoids more gov't aidWASHINGTON — Freddie Mac escaped the second fiscal quarter without asking the government for any new financial aid, but still expects to need more federal help in the future. The government-controlled mortgage finance company posted a quarterly loss of $374 million, or 11 cents a share, including $1.1 billion in dividends paid to the government.

August 7th, 2009 Fannie Mae seeks $10.7B in US aid after 2Q lossWASHINGTON — Fannie Mae plans to tap $11 billion in new government aid after posting another massive quarterly loss as the taxpayer bill from the housing market bust keeps growing. The mounting price tag for the rescue of Fannie and its goverment-sponsored sibling, Freddie Mac, is surpassed only by insurer American International Group Inc., which has received $182.5 billion in financial support from the government so far.

August 7th, 2009 Fannie Mae, AIG, Crocs, Leap Wireless big moversNEW YORK — The following stocks were among those that moved substantially or traded heavily Friday on the New York Stock Exchange and Nasdaq Stock Market: NYSE: Fannie Mae, down 13 cents at 66 cents The government-sponsored mortgage finance company posted another huge quarterly loss and said it will tap $11 billion in new federal aid. Colonial BancGroup Inc., down 21 cents at 49 cents The bank is under criminal investigation by the government over alleged accounting irregularities at its mortgage warehouse lending unit.

July 24th, 2009 Frank defends oversight of Fannie, FreddieWASHINGTON — House Financial Services Chairman Barney Frank is defending Democrats' oversight of struggling mortgage buyers Fannie Mae and Freddie Mac. At a hearing Friday, the Massachusetts Democrat said the notion that the two institutions have been left "unbridled" by Democrats is a myth.

June 5th, 2009 Summary Box: Mozilo accused of civil fraudFORMER COUNTRYWIDE CEO CHARGED: The government has accused Angelo Mozilo and two other former executives of the fallen mortgage lender of civil fraud and insider trading. The three dispute the civil charges by the Securities and Exchange Commission.

May 12th, 2009 Freddie Mac seeks $6.1B in US aid after 1Q lossWASHINGTON — Mortgage giant Freddie Mac is looking for $6.1 billion in additional government aid as the cost to taxpayers from the housing market bust keeps growing. The McLean, Va.-based company, seized by federal regulators in September, on Tuesday posted a loss of $9.9 billion, or $3.14 per share, for the quarter ending March 31.

May 8th, 2009 Fannie Mae seeks $19B in US aid after 1Q lossWASHINGTON — Fannie Mae issued a grave warning about its future on Friday, saying it needs $19 billion in additional government aid as job losses grow and risky loans made during the housing boom go bad at an unnerving pace. The mortgage finance company, which already got a $15 billion government bailout in March, warned it may need even more money and won't be profitable for the foreseeable future.

January 26th, 2009 WASHINGTON - Fannie Mae, the giant mortgage company under federal control, is to ask for up to $16 billion in federal money to stem massive losses from the mortgage default crisis. The request for an estimated $11-16 billion aims to keep the largest source of US home loan funding alive, and would be its first withdrawal under a programme established last year to keep it and Freddie Mac afloat.