Fannie Mae loses $6.5 billion in 4Q on tax change

Fannie Mae loses $6.5 billion in 4Q on tax change

Sweeping changes to U.S. tax law led to a $6.53 billion loss at Fannie Mae last quarter, putting the government-controlled mortgage company in the position of seeking cash assistance from taxpayers for the first time since it emerged from the housing crisis six years ago.Fannie Mae said Wednesday its net worth sank to a negative $3.7 billion after it had to "remeasure" its deferred tax assets t...