Fannie posts $29B 3Q loss, $100B may not be enough (AP)
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AP - Fannie Mae on Monday posted a $29 billion loss in the third quarter as it took a massive tax-related charge, and warned that its $100 billion lifeline from the government may not be sufficient for its solvency should it continue to lose money.
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November 10th, 2008
Housing agencies to widen homeowner help: sources (Reuters)
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Reuters - The regulator for Fannie Mae and Freddie Mac will on Tuesday announce fresh steps to mitigate foreclosures while a separate agency is preparing to ease terms on another homeowner-aid program, sources familiar with the plans said late on Monday.
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GM says GMAC mortgage unit may not survive (AP)
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AP - General Motors says the troubled mortgage industry and frozen credit markets have raised doubts that the mortgage business of its GMAC financial arm can survive.
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Rescue plans may slow pricing of troubled assets (Reuters)
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Reuters - The government's emergency investments in the financial sector may actually slow the day of reckoning for mortgage losses, a panel of bankers said on Monday.
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US mortgage finance giant Fannie Mae posts 29 bln dlr loss (AFP)
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AFP - Fannie Mae, the US mortgage finance giant bailed out by the government, reported Monday a third-quarter loss of 28.99 billion dollars due to the slump in the real estate sector.
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Fannie Mae posts $29B loss, may tap gov’t funding (AP)
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AP - Fannie Mae on Monday posted a $29 billion loss in the third quarter as it took a massive tax-related charge, and said it may have to tap the government's $100 billion lifeline as early as next year.
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