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Fannie Mae Seeks $15.2 Billion in Aid After Loss

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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