Fannie Mae asks for $1.5B in aid after Q2 loss

WASHINGTON: Government-controlled mortgage company Fannie Mae is asking for $1.5 billion in additional taxpayer aid after posting a smaller loss in the second quarter.

Fannie Mae said Thursday that it lost $3.13 billion, or 55 cents per share, in the April-to-June period. The results were the best since the company was put under federal control in September 2008.

That takes into account $1.9 billion in dividends paid to the Treasury Department. It compares with a loss of $15.2 billion, or $2.67 a share, in the quarter a year ago.



The government rescued Fannie Mae and sibling company Freddie Mac from the brink of failure two years ago. So far, they have needed nearly $147 billion to stay afloat.