Fannie Mae Loses $29 Billion

From the New York Times:

Fannie Mae, the giant mortgage finance company, reported a big quarterly loss on Monday and indicated that it could be forced to seek government financing early next year.

The company’s results suggested that home prices are far from a bottom and that the government would probably have to pump tens of billions of dollars into Fannie Mae and its sister company Freddie Mac. Regulators took control of the two companies in September and the Treasury Department said it would invest up to $100 billion in each but it had not yet put any money into the companies.