Fannie Mae lost $13.1 billion in first quarter
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.
Fannie Mae said on Monday it is losing money so fast it may have to tap government cash to avoid shutting down after the largest source of funding for US homes posted a record $29 billion quarterly loss.