Fannie Mae ask for $4.57 billion

Mortgage giant Fannie Mae today reported loss in the fourth quarter. Fannie is asing the fedral government for aout $4.57 billion aid, according to Yahoo first reported.

Fannie lost $2.41 billion in the fourth quarter of 2001 because of the declining home prices.

Fannie and brother company Freddie Mac had been propped up for more than $150 billion since the 2008 financial crisis broke out. From then on, their decisions need to be decided by the Fedral Housing Finance Agency.

In November,2011, Feddie had put forward a petition of $6 billion. Last week, the Fedral Housing Finance Agency submitted a plan to Congress last week. Under the plan, the two company's role in the mortgage market would be shrunk.

Link to FHFA release plan for Fannie and Freddie out