Fannie Mae, the mortgage-finance company operating under federal conservatorship, said it will seek $8.4 billion in aid from the Treasury Department after reporting an 11th-straight quarterly loss.
The company lost $11.5 billion in the first three months of this year, it said Monday in a Securities and Exchange Commission filing. Fannie Mae had posted $136.8 billion in losses in the preceding 10 quarters, and the new aid request would bring its total draw from the Treasury to $84.6 billion since April 2009.
Fannie Mae said the quarterly loss was largely attributable to new accounting rules that required moving $1.5 trillion in mortgage guarantees to its balance sheet.
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