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February 29, 2008
Fannie Mae Reports $3.56 Billion Loss
Citing declining home prices and growing defaults, Fannie Mae recorded a $3.56 billion loss in last year's fourth quarter versus a $604 million profit during the same period a year earlier. The government-sponsored enterprise (GSE) offered little in the way of optimism, forecasting that residential prices will continue to plunge and that its financial results will only worsen.
Posted by S. Germain at February 29, 2008 08:22 AM