The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac.
Fannie Mae plans to raise minimum credit score requirements next month and limit the amount of overall debt that borrowers can carry relative to their incomes, The Washington Post reported on Thursday.
Fannie Mae has said it may have to ask the government for more financial assistance because the company cannot sell $5.2 billion in tax credits.
Battered mortgage lender Fannie Mae has sought claims to the tune of USD 15.8 billion from bankrupt Lehman Brothers, mainly related to derivatives contracts.
Bailed out mortgage lender Fannie
Mae has reported losses of USD 19.76 billion for the September
quarter, bogged down by staggering credit-related expenses.
Day in Pics: 27th August
August 27, 2014
Bang Bang - Movie Stills and Promotion