WASHINGTON, Jan. 27 (UPI) -- The mortgage giant Fannie Mae says it will seek to tap up to $16 billion in previously approved U.S. Treasury bailout funds.
The move, announced Monday, marks the first time the government run mortgage firm has requested to dip into the $100 billion each that federal officials pledged last year to keep it and its sister firm, Freddie Mac, afloat, The Washington Post reported.