Fannie Mae could face more losses

(Fortune) -- Could Fannie Mae be the next large financial company to announce billions of dollars of market losses on bonds backed by distressed mortgages?

That certainly seems possible after the government-sponsored mortgage giant announced plans Tuesday to bolster capital by selling $7 billion of new stock and cut its dividend by 30%. In a statement Tuesday on the capital plan, Fannie Mae said it faced a range of mortgage-related losses, including market losses on the securities it holds



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