Another taxpayer-funded bailout for Fannie:
NEW YORK (Reuters) - Fannie Mae, the largest provider of U.S. home mortgage funding, on Thursday reported a $14.8 billion quarterly net loss that it said would force it to go to the U.S. Treasury trough a third time for money to stay in business.
The company noted a "significant uncertainty" of its long-term financial health in reporting its eighth consecutive quarterly loss, which illustrates its struggle to make money in the face of rising defaults and pressure to do more to stabilize the housing market.
Fannie Mae and rival Freddie Mac have become more crucial to the nation's housing system since 2007 as the financial crisis sealed off other sources of loan funding. The government last September seized the congressionally chartered companies to ensure that they would continue supporting housing while taking stiff losses. The government promised to inject up to $400 billion of capital.
Washington-based Fannie Mae said its regulator requested $10.7 billion from the Treasury to erase a deficit in its net worth, bringing total draws under a senior preferred stock purchase program to $45.9 billion
