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Article: Fannie Mae to seek more federal funds
- Article from:
- Charleston Gazette
- Article date:
- November 10, 2009
- Author:
CopyrightCopyright 2009 Charleston Gazette. Provided by ProQuest LLC. (Hide copyright information)
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WASHINGTON - Fannie Mae said Monday it may have to ask the
government for more financial assistance because the company cannot
sell $5.2 billion in tax credits.
The Treasury Department last week blocked the mortgage giant from
selling about $2.6 billion in low-income housing tax credits to
investors that included Goldman Sachs Group Inc.
Because the investors could use the credits to reduce their own
tax bills, Treasury said the sale would result in a loss of tax
revenue greater than the savings to the government.
"We have said all along that we would make determinations based
on what is in the taxpayers' interests," said Andrew Williams, a
Treasury spokesman.
Fannie Mae requested $15 ...