“Fannie Mae lost $13.1 billion in first quarter”
NEW YORK (MarketWatch) — Government-controlled mortgage finance firm Fannie Mae said on Monday that it lost $13.1 billion, or $2.29 a share in the first quarter, compared to a loss of $23.2 billion, or $4.09 a share a year ago. “Our financial results for the first quarter of 2010 reflect the continued weakness in the housing and mortgage markets, which showed some signs of stabilization in the first quarter of 2010 but which remain under pressure due to high levels of unemployment and underemployment,” the company said in a filing with the U.S. Securities and Exchange Commission on Monday.
