US Fannie Mae in the red after loss of $2.3 billion
America’s largest mortgage finance company, Fannie Mae, has revealed a net loss of $2.3 billion (£1.2 billion) for the second quarter, compared with a profit of $1.97 billion (£1.02 billion) last year.The loss is a direct result of the problems in the US housing market and the sub-prime crisis, as borrowers defaulted on home [...]
US Fannie Mae in the red after loss of $2.3 billion
