Fannie Mae, a major U.S. mortgage financing institution, reported a massive first-quarter loss of $13 billion, equivalent to $2.29 per share, and is once again seeking significant financial assistance from the government. The institution has already received multiple government "infusions" and currently requires an additional $8.4 billion in capital injection to help it overcome its difficulties.
The U.S. real estate market is currently showing signs of stabilization, but Fannie Mae warns that cases of mortgage foreclosures will increase and housing prices will see a slight decline. Freddie Mac, another major mortgage financing institution, stated on the 5th that due to an $8 billion loss in the first quarter, it requires the government to provide an additional $10.6 billion in bailout funds.
