Fannie Mae lost $14.8 billion in the second quarter, 36.2% less than in the first quarter but over six times more than in the year-ago period.

The government-sponsored enterprise said Thursday after the markets closed that most of the loss came from credit expenses, which dropped 10%, to $18.8 billion, from the first quarter but increased more than three-fold from the year prior.

Fannie's credit provision fell 10.3% from the first quarter, to $18.2 billion, which it attributed to a slower rate of increase in its estimated default rate and average loss per default. The company's credit reserve increased 32.1%, to $55.1 billion.

Fannie said the Federal Housing Finance Agency, its regulator, had requested another $10.7 billion from the Treasury Department to cover its net worth deficit. The additional funds would bring the government's total investment in Fannie to $45.9 billion.

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