Fannie teed up. Are you teed off?

Mortgage finance company Fannie Mae acknowledged Tuesday that it spent more than $6,000 on a golf outing after it was seized by the government earlier this year but said it was halting similar company-sponsored events. Dallas-Fort Worth-area television station KTVT reported Monday night that Fannie paid for 20 golfers, including several company executives, to attend a Sept. 29 golf excursion in Texas. Fannie Mae, which did not dispute the report, described the event as a mortgage industry customer meeting held twice annually. ‘We do regret that the activities surrounding the customer meetings in Dallas may be perceived as excessive,’ company spokesman Brian Faith said in an e-mail message. ‘We have ceased all similar activities as those associated with this event, and we regret having not done so in this case.’

After the stock markets closed Tuesday with all eyes on the presidential election, home builder D.R. Horton Inc. warned investors that it expected to lose as much as $900 million in its fiscal fourth quarter -- about 18 times as much as in the prior-year period. D.R. Horton, one of the nation’s largest home builders, projected a loss for the quarter ended Sept. 30 of $800 million to $900 million, including an expected tax benefit of $350 million. That works out to about $2.53 to $2.84 a share.... In the year-ago period, D.R. Horton lost $50.1 million, or 16 cents a share. The company projected that revenue for the quarter would fall by half to $1.5 billion.