Freddie Mac extends fall after loss

NEW YORK (Reuters) - Shares of Freddie Mac (FRE.N) extended losses in pre-market trade, falling 16 percent to $6.75 after the mortgage finance company posted its fourth consecutive quarterly loss.

Freddie Mac also set plans to slash its common stock dividend and warned of more difficulty ahead.

Shares of the other government-sponsored enterprise, Fannie Mae (FNM.N), also declined before the bell, falling 13.6 percent to $11.75.

(Reporting by Steven C. Johnson; Editing by James Dalgleish)