Fannie Mae is in need of another $15 billion in federal assistance, which brings its total to more than $75 billion. The worse is that the mortgage finance company warned its losses will continue this year.

The salvage of Fannie Mae and sister company Freddie Mac is turning out to be one of the most expensive results of the financial meltdown. The new request means the total bill for the duo will top $126 billion.

The twinge is not yet over. Fannie warned last Friday that it will need even more money from the Treasury, as unemployment remains high and millions of Americans lose their homes through foreclosure.

Fannie Mae reported Friday that…

The Obama administration is anticipated to reveal additional protections to guarantee homeowners are treated fairly and consistently under its mortgage relief program soon.

The policies, outlined in a draft Treasury Department document would address long-standing complaints from housing counselors. They have quoted cases of lenders continuing with foreclosures while homeowners were being evaluated for help. That practice would be forbidden under the new rules.

Government officials acknowledge treatment of homeowners has been a problem under the $75 billion mortgage relief effort.

Borrowers rejected from the program would also have 30 days to appeal the decision. In that period, lenders could schedule a foreclosure sale but will not conduct it. Mortgage companies would be…