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On May 5th Housing Wire reported The Federal Housing Finance Agency had to request $10.6 billion from the Treasury Department to cover Freddie Mac’s $10.5 billion deficit. On May 11th  the Wall Street Journal reported Fannie Mae needs 8.4 billion. According to Freddie Mac, due to new accounting standards implemented in the first quarter of 2010 combined with the ongoing slow real estate market, Single-family net charge-offs rose to $2.8bn, from $2.4bn in Q409 and the delinquency rate rose to 4.13%  from 3.98%. Single-family REO and delinquent loans rose to $115bn, from $103bn. For more information read Freddie Loses $6.7bn in Q1, Calls on Treasury to Provide $10.6bn in Aid | REO-Insider and Fannie Mae Needs $8.4 Billion More.

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