WASHINGTON – Fannie Mae said it plans to take a $5 billion charge when its reports its fourth quarter results Friday because the government blocked its plan to sell tax credits.
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The Treasury Department last year prevented the mortgage giant from selling about half of its low-income housing tax credits worth about $2.6 billion to investors including Goldman Sachs Group Inc.
Fannie Mae reported that change would cause it to ask for more money from the government, which has already provided $61 billion to keep the company afloat.
