Government-controlled mortgage buyer Freddie Mac managed a narrower loss of $1.7 billion for the October-December quarter of last year. But it has asked for an additional $500 million in federal aid — up from the $100 million it sought in the previous quarter.
Freddie Mac also posted a $19.8 billion loss for all of 2010.
The government rescued Freddie Mac and sibling company Fannie Mae in September 2008 to cover their losses on soured mortgage loans. It estimates the bailouts will cost taxpayers as much as $259 billion.
Freddie Mac's October-December loss attributable to common stockholders works out to 53 cents a share. It takes into account $1.6 billion in dividend payments to the government. It compares with a loss of $7.8 billion, or $2.39 a share, in the fourth quarter of 2009.
The company said the recovery of the housing market is still fragile.
"As we begin 2011, the housing recovering remains vulnerable to high levels of unemployment, delinquencies and foreclosures," Chief Executive Charles Haldeman said in a statement.
"We expect national home prices to decline this year as housing will continue to take some time to recover."
CNBC
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