Fannie Mae loses $2.3bn and cuts dividend
                   
ft.com
08-Aug-2008 216 related
        

By Francesco Guerrera in New York Fannie Mae warned that the US housing crisis would last well into next year as it reported a $2.3bn second-quarter loss and slashed its dividend after recording $6.2bn in credit-related and investment losses on Friday. The US government-sponsored mortgage financier said it was navigating “the most difficult housing market in more than 70 years” and added that homeowners’ woes had taken a turn for the worse... [read full story]                    

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