Fannie edition.
Fannie Mae, the home financing giant, posted its fourth consecutive quarterly loss on Friday as home loan defaults increased and said it would slash its dividend more than 85 percent and take other steps to shore up its capital position.
Just three weeks after the federal government took sweeping measures to support Fannie Mae and smaller rival Freddie Mac , the Washington-based company reported a greater-than-expected loss of $2.3 billion, excluding preferred dividend payments, or $2.54 a share in the second quarter.
