United States mortgage giant Fannie Mae has announced a third quarter loss of $43 billion due to the slump in the real estate sector.

The loss amounts to about $19 a share.

In comparison, during the second quarter of this year Fannie Mae lost just $3.3 billion or $3.69 a share.

The US Government took control of Fannie Mae and its sister company Freddie Mac two months ago in an effort to avert a major meltdown of the financial system.

- AFP