Fannie Mae Walkathon Raises Less Than Previous Event

The embattled mortgage giant Fannie Mae is touting some good news: Its annual walkathon for the homeless raised $5.6-million in 2008.

However, the economic crisis appears to have taken a toll on fund raising. The 2007 walkathon raised more than $7-million.

The annual event, which takes place in November, supports homeless programs and social-service providers in the Washington area.

Given the federal government’s takeover of Fannie Mae last year, questions have been raised about whether its charitable programs would end. The Federal Housing Finance Agency said in October that Fannie Mae and its sister organization Freddie Mac should continue to help charities.