The continuing problems of the economy in general and the housing market in particular have again taken their toll on Fannie Mae, which reported a $23.2 billion loss for the first quarter.
Its loss was a slight improvement over the fourth quarter loss of $25.2 billion and a slight improvement over its third quarter loss of $29 billion.
The company was placed into conservatorship last September.
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Its net investment losses were $5.4 billion, compared with $4.6 billion in the fourth quarter of 2008.
The value of its nonperforming loans was $144.9 billion on March 31, compared with $119.2 billion on December 31. By contrast, the value of those loans was $4.6 billion as of March 31, 2008.
Fannie reported $20.9 billion in credit-related expenses during the first quarter, compared with $12 billion in the previous quarter.
Fannie and Freddie Mac, which are government-sponsored enterprises, own or guarantee $5.2 trillion worth of home mortgages, about half of all outstanding loans.
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