November 9, 2007

Fannie Mae loss doubles, sees deeper housing slump (Reuters)

The headquarters of mortgage lender Fannie Mae is shown in northwest Washington October 3, 2006. New York Attorney General Andrew Cuomo plans to announce a 'significant new development' on Wednesday in his probe into the mortgage industry involving Fannie Mae and Freddie Mac, his office said. (Jason Reed/Reuters)Reuters – Fannie Mae , the largest U.S.
mortgage finance company, said on Friday its third-quarter net
loss doubled from last year as slumping home prices and a
credit squeeze drove down values of mortgage securities.

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