Getting your player ready...
WASHINGTON — Fannie Mae needs another $15 billion in federal assistance, bringing its total to more than $75 billion.
And worse, the mortgage finance company warned that its losses will continue this year.
The rescue of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive after- effects of the financial meltdown.
The new request means the total bill for the duo will top $127 billion.
And the pain isn’t over. Fannie warned Friday that it will need even more money from the Treasury, as unemployment remains high and millions of Americans lose their homes through foreclosure.
