Personal Finance

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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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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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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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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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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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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.

--- AP ...

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.

--- AFP ...

Reuters - Fannie Mae, the largest provider of funding for U.S. residential mortgages, on Monday said it lost a record $29 billion in the third quarter as the company wrote down a tax-related asset that has its buoyed capital.

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AP - Government-controlled mortgage finance company Fannie Mae says it lost $29 billion in the third quarter as it took a massive tax-related charge and saw mortgage defaults continue to rise.

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AP - British lender Nationwide Building Society said Monday mortgage lending fell 72 percent in the first half of its financial year, as home buyers were deterred by a crashing property market and mortgage rates were boosted by the credit crunch.

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