Freddie, Fannie seeking $35 billion more of government bailout money.

Freddie Mac, the mortgage-finance company under federal control, needs as much as $35 billion more in federal aid, and Fannie Mae may soon ask the U.S. Treasury Department for rescue funds as well.

Treasury officials pledged in Sept 08 as much as $100 billion to Fannie and Freddie each to ensure their solvency.

These two are the largest sources of mortgage money in the U.S., owning or guaranteeing a combined $5.2 trillion of the $12 trillion home-loan market.

They have $4.5 trillion of risk loans, so $100 billion seems a dro in a bucket.

The companies have posted five consecutive quarters of losses totaling $68.4 billion combined.

The Federal Housing Finance Administration seized their operations in September 08 amid concern from regulators that the government-sponsored enterprises may fail in the worst housing slump since the Great Depression.

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