Freddie Mac requests $10.6 billion more in federal help

Mortgage giant Freddie Mac is asking the federal government for $10.6 billion in help after posting a big loss in the first quarter. 

The first quarter net loss was $8 billion, or $2.45 a share, for the McLean-Va.-based mortgage company that was taken over by the government in September 2008, according to financial results posted on the website. 

Republican are insisting that the financial regulatory reform bill under consideration on the Senate floor contain provisions dealing with Fannie Mae and Freddie, which they fault as the impetus of the 2008 financial crisis. 

Freddie Mac paid $1.3 billion in dividends to the Treasury during the first three months of the year. 

During the first quarter of 2009, the firm lost $10.4 billion or $3.18 a share. 

So far the firm has received $61.3 billion in federal aid. The Federal Housing Finance Agency, as conservator of the firm, will send the request to the Treasury Department. 

 To see the first quarter report, click here.