Fannie Mae Seeks Another Bailout

Fannie Mae admitted last week that it needs another $15.3 billion from the federal government to stabilize its finances.

Fannie, which is controlled by the federal government, is making financial progress. It reported a fourth-quarter loss of $16.3 billion, including $1.2 billion in dividend payments to the Treasury Department, as compared to a loss of $25.2 billion in the same period in 2008.

Fannie’s problems stem from a continuing stream of bad loans, with 5.38 percent of its single-family loans more than 90-days delinquent, up from 2.42 percent in 2009.