Fannie Mae records huge loss of $14.8 billion

US mortgage insurer Fannie Mae has reported a loss of $14.8 billion in the second quarter of 2009 saying that has pushed the firm to ask the US Treasury for more aid.

The troubled mortgage-finance company, which lost $23.2 billion in the first quarter of 2009, Thursday requested $10.7 billion from a $200 billion US government lifeline.

The new report brings the total of the institution's losses over the last two years to $101.6 billion and will bring its total draw on the Treasury since April 2009 to $44.9 billion.

"Due to current trends in the housing and financial markets, we expect to have a net-worth deficit in future periods, and therefore will be required to obtain additional funding from Treasury pursuant to the senior preferred stock purchase agreement," Fannie Mae said. "As a result, we are dependent on the continued support of Treasury in order to continue operating our business."

Washington-based Fannie Mae has asked for the receipt of the additional money on or before Septemebr 30.

Fannie Mae, along with its sister institution Freddie Mac, have become more crucial in the US housing system since 2007 as the financial downturn sealed off other sources of mortgage funding.