by Greg Diodati
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by Greg Diodati
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The nation’s largest mortgage financier reported a smaller loss during the third quarter of this year than it did in the previous quarter, with the latest figures representing a $17 billion improvement over the company’s financial results just a year earlier. Fannie Mae says, though, that it needs another $2.5 billion from taxpayers to cover its net worth deficit for the July-September reporting period.
Fannie Mae says it lost $1.3 billion in the third quarter of 2010, compared to a net loss of $1.2 billion in the second quarter of the year and a net loss of $18.8 billion during the third quarter of 2009.
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