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Fannie Mae's(FNM Quote) third-quarter loss more than doubled as the mortgage investor took big hits from the credit crunch and housing market downfall.
Shares were sliding $3.50, or 7%, to $46.30.
The Washington, D.C.-based company reported a loss of $1.4 billion, or $1.56 a share, for the quarter ended Sept. 30. That compared with a year-earlier loss of $629 million, or 79 cents a share.
Revenue slipped to $2.51 billion from $2.85 billion the prior year. ...
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