Fannie Mae issues $9 bn loss warning for 3Q04
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NEW YORK, November 16  - Fannie Mae (FNM.NYS) has missed the regulatory deadline for filing its 3Q04 results with the SEC, while warning of an estimated net loss of $9 billion for the quarter.
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The comapny reported a quarterly loss of $369.9 million, citing taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one.
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MCI has reported a $3.4bn (Â£1.8bn) third-quarter loss due mainly to a write-off of the value of its assets. The company&#39;s efforts to recover from its bankruptcy are being hampered by stiff competition in
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Fannie Mae (FNM:NYSE - news - research), the scandal-tainted mortgage finance firm, says it&#39;s looking at a $9 billion loss in its derivatives portfolio if regulators don&#39;t accept its accounting practices.
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Fannie Mae  shares fell as much as 3.5 percent on Friday, bringing losses for the week to about 16 percent, as investors grew wary of potential widespread accounting problems at the No. 1 U.S. housing finance company.
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Fannie Mae (FNM.N: Quote, Profile, Research) , the No. 1 US home funding company, said on Wednesday it sold $8 billion of three-month benchmark bills due Dec. 22, 2004
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The troubled mortgage lender posted a loss of $422 million, citing rising loss provisions and impairment charges.
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Fannie Mae (FNM.N: Quote, Profile, Research) , the largest US home funding company, said on Monday it plans to sell $4.5 billion of three-month benchmark bills due Dec. 29, 2004
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No. 3 airline says loss to be worse than forecasts; gives new warning of bankruptcy threat. NEW YORK  - Delta Air Lines Inc.
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Countrywide Financial Corp, the mortgage lender that agreed this month to be acquired by Bank of America Corp, posted a larger-than-expected $421.9 million quarterly loss on Tuesday, as more homeowners fell behind on payments.
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Fannie Mae, the largest U.S. home  funding company, said on Wednesday it may privately sell up to  $4 billion of preferred stock this week, which could help it  meet higher capitalization standards it faces after regulators  found it broke accounting rules.
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The company reported a loss of $369.9 million in its fourth quarter, citing higher taxes, difficulty in its mortgage referral unit and costs for proposed spinoffs that would make five companies out of one.
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(CBS/AP) Fannie Mae, the nation&#39;s second largest financial institution, forced out two top executives as it struggles to deal with an accounting scandal which will likely force it to wipe out $9 billion in profits over the past four years.
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Morgan Stanley, the No. 2 U.S. investment bank, reported a $9.4 billion writedown on Wednesday from bad bets on mortgage-related debt, leading it to take a $5 billion infusion from an arm of the Chinese government
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KB Home  on Thursday posted a  fiscal third quarter loss, as the U.S. home market suffered a  deepening decline in demand, a swelling supply of homes for  sale and tighter standards in the mortgage market.
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The company said its quarterly loss ballooned to $302.6 million as it struggled with its mortgage lending arm and said it is trying to renegotiate the sale of the unit.
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NOVEMBER 04, 2004 (IDG NEWS SERVICE) - MCI Inc. reported a $3.4 billion third-quarter loss today, due mainly to a write-off of the value of its assets, as the company&#39;s efforts to recover from bankruptcy were