A Tax Victory for Fannie Mae

Washington Post (04/23/08) P. D4
The Internal Revenue Service recently eliminated a proposal that would have allowed Fannie Mae, Freddie Mac and other mortgage buyers to use losses from mortgages only to reduce capital gains, which would have increased the taxable value of their loan portfolios. Fannie Mae fought the proposed regulations for two years. Tax legislation passed by the Senate and up for consideration in the House would permit losses from 2008 to be applied to taxes paid since 2004, generating refunds.