…Fannie Mae is asking for an additional $15 billion in government aid after posting a $19.8 billion loss. Fannie Mae and Freddie Mac own or guarantee almost 31 million home loans worth about $5.5 trillion, or about half of all mortgages.
The Federal Housing Administration (FHA), another government agency, is heading for the same kind of financial trouble. The FHA has insured about 1 out of 4 new loans made this year. 17% of FHA borrowers are at least one payment behind, or in foreclosure...