Fannie Mae loses further $ 18.9 billion

This pushed Treasury to claim public support for 15 billion dollars. The body of U.S. mortgage refinancing Fannie Mae said Thursday it had suffered in the third quarter, a new heavy net loss of 18.9 billion dollars. This pushed Treasury to claim public support for 15 billion dollars.

The loss this quarter was reduced by 35% over the same quarter last year, but has worsened over the second quarter, when it was 14.8 billion, the company said in a statement. Since the beginning of the year, the group relief under state supervision reach 56.8 billion dollars.

The group attributed the new hole in its finances at "22.0 billion dollars in spending, reflecting the continued accumulation of both loss reserves and impairments due to accounting adjustments in the right price.

These impairments are attributed to "growing number of loans that were acquired from holders of securities backed by mortgages to continue the program modified the terms of the loan" for struggling homeowners, Fannie Mae said.

The organization is in effect sought by the government to borrow securities backed by mortgages whose value has collapsed, and support in this way the housing market.

"Therefore, (Wednesday), the director of the Federal Agency for real estate finance (the administrative supervision of the company, editor's note) has submitted a request to get $ 15.0 billion from the Treasury company name, "said Fannie Mae.