WASHINGTON – Fannie Mae said Friday it needs an additional $19 billion in government aid after reporting a $23.2 billion loss for the first quarter.
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The secondary mortgage market giant, taken over by the government last September, received $15 billion in aid in March.
The company reported "there is significant uncertainty as to our long-term financial sustainability." Even more government aid, it said, "may not be sufficient to keep us in a solvent condition."
The first quarter loss compares to a loss of $2.5 billion for the first quarter last year.
