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Fannie Mae lost $25.2 billion in the fourth quarter and is asking the government for $15.2 billion in aid as the U.S. housing market worsens.
The mortgage finance company, seized by federal regulators in September, posted a quarterly loss of $4.47 per share. That compares with a loss of $3.6 billion, or $3.80 a share, in the year-ago period.
The fourth-quarter loss was driven by $12 billion in credit losses due to declining housing market conditions, $12.3 billion in losses on derivatives and $4.6 billion in writedowns of the value of its mortgage-backed securities.
The request for $15.2 billion in federal aid, which matches Fannie's negative net worth for the quarter, is the first time the company has asked for government money.
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- TiVo Reports Quarterly Loss but Matches Forecasts
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Data is a real-time snapshot *Data is delayed at least 15 minutes