WASHINGTON – Freddie Mac, the ailing US mortgage finance giant seized by the government, reported Wednesday a 2008 net loss of $50.1 billion, bleeding nearly half of it the fourth quarter.

The company's 2008 net loss was more than 16 times larger than the $3.1 billion of red ink for 2007.

Freddie Mac said it had a fourth quarter net loss of $23.9 billion, as the global financial crisis intensified after the collapse of investment bank Lehman Brothers in September.

The fourth quarter results were down slightly from a $25.3-billion loss in the third quarter.

Losses in the 2008 final quarter mainly were driven by writedowns, including on the company's derivative portfolio, and increased credit-related expenses, said the shareholder-owned company, which was seized by the government in September to prevent its collapse.

The company said its government-appointed conservator has asked the US Treasury for an additional $30.8 billion in funding as part of its bailout, after shareholders' equity totalled a negative $30.7 billion at December 31.

Freddie Mac said it expected to receive the funds from the Treasury in March.