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Reuters - Fannie Mae on Friday posted a
much larger-than-expected second-quarter loss and slashed its
dividend more than 85 percent to preserve capital as home loan
defaults accelerated in the bleakest U.S. housing market since
the Great Depression.
AFP - Struggling mortgage finance giant Fannie Mae reported Friday a steeper-than-expected quarterly loss and said it was taking measures to face the challenges of the worst US housing slump in decades.
AP - Fannie Mae swung to a second-quarter loss that was more than triple what Wall Street expected as conditions in the housing market continued to deteriorate, forcing the mortgage finance giant to make bold cutbacks that will send shock waves through the mortgage market.