Fannie Mae posts $3.3 billion 2nd quarter loss, avoids request for federal aid
By Alan Zibel, APThursday, August 5, 2010
Fannie Mae posts $3.3 billion 2Q loss
WASHINGTON — Government-controlled mortgage company Fannie Mae posted a $3.1 billion loss in the second quarter but avoided a request for federal aid.
Fannie Mae says it lost $3.13 billion, or 55 cents per share, in the April-to-June period. The results were the best since the company was put under federal control in September 2008.
That takes into account $1.9 billion in dividends paid to the Treasury Department. It compares with a loss of $15.2 billion, or $2.67 a share, in the quarter a year ago.
The government rescued Fannie Mae and sibling company Freddie Mac from the brink of failure. So far, they have needed $145 billion to stay afloat.
YOUR VIEW POINT