Fannie Mae needs more state cash

Fannie Mae, the biggest source of money for US home loans, said yesterday it would seek $4.6bn (£2.9bn) in additional federal aid after reporting a fourth-quarter loss. The government-controlled mortgage finance company posted a loss of $2.4bn for the last three months of 2011. Fannie Mae has borrowed more than $116bn from the government and paid back almost $20bn in dividends.