Industry News

Fannie Mae to issue $7 billion in stock to raise capital

Freddie Mac announced similar step last month
Published on Dec 5, 2007

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by CareyBot

Mortgage repurchaser Fannie Mae said Tuesday it would issue $7 billion in preferred stock to raise capital and reduce the company’s quarterly common stock dividend beginning in the first quarter of 2008. Fannie Mae on Nov. 9 reported $1.4 billion ...