Fannie Mae to buy up to 200,000 mortgages

Fannie Mae, the mortgage finance company under government control, said it expects to purchase as many as 200,000 delinquent loans out of its securities this month.

Under a plan announced last month, the Washington-based company will continue buying the mortgages "in each of the subsequent few months until we have substantially reduced the current population of loans that are four or more months delinquent," it said Tuesday in an e-mailed statement.