Government-controlled mortgage finance giant Fannie Mae is asking for $2.5 billion in additional federal aid after posting a narrower third-quarter loss.
Fannie Mae also said Friday it is likely that the recent foreclosure chaos will have a negative impact on the delinquency rates of its loans, its expenses and foreclosure timelines. Fannie Mae said Friday it lost $3.46 billion, or 61 cents a share, in the July-September quarter. That takes into account $2.1 billion in dividend payments to the Treasury Department, and compares with a loss of $19.8 billion, or $3.47 a share, a year earlier.
"In other news today, Fannie May announced a bonus pool of $2.5 billion for its top executives........." said Erin Burnett. :eek: