Fannie Mae And Freddie Mac Post Huge Losses

Fannie Mae, the largest buyer and backer of U.S. home loans, lost nearly $3.6 billion in the fourth quarter of 2007, as a result of home-loan delinquencies and poor bets on interest rates, The Boston Globe reported February 28, 2008.

Freddie Mac was expected to report about a $1.5 billion fourth-quarter loss.

Read The Boston Globe Article