Fannie Mae, the largest provider of residential mortgage funds, released its quarterly and full year results late Friday. The Washington based company narrowed the quarterly net loss and reported a loss of $16.3 billion for the fourth quarter.

The financial services major also asked $15.3 billion from the Treasury to eliminate its net worth deficit as the fourth quarter loss left Fannie Mae with a net worth deficit of $15.3 billion as of December 31, 2009. The company had already received $15.0 billion from Treasury under the senior preferred stock purchase agreement December 31, 2009. The new $15.3 billion bailout would bring its total bailout amount over $76 billion.

For the fourth quarter ended December 31, Fannie Mae posted a net loss of $16.32 billion or $2.87 a share. The net loss improved while comparing to the net loss of $19.76 billion or $3.47 a share posted in the fourth quarter of the last year. The loss in the fourth quarter was mainly driven by $11.9 billion in credit expenses. The net interest income in the fourth quarter was reported $3.7 billion, decreasing by 3% compared to the third quarter of the fiscal.

For full year 2009, Fannie posted a net loss of $74.4 billion, while in FY 2008 the net loss was posted $59.8 billion by the company. The total nonperforming loans were reported $216.5 billion at the end of 2009, increased from $119.2 billion at the end of 2008.