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Fannie, Freddie bailout could double
Posted By kurtnimmo On October 21, 2010 @ 11:15 am In Washington Politics | Comments Disabled
Zachary A. Goldfarb
October 21, 2010
The federal bailout for Fannie Mae and Freddie Mac could double in size during the next three years, according to projections from the companies’ federal regulator.
Fannie and Freddie, the federally controlled mortgage finance giants, probably will need at least another $73 billion and perhaps as much as $215 billion from taxpayers in the next three years to meet their financial obligations, the Federal Housing Finance Agency said, but much of that money would automatically be returned to the government.
The growing taxpayer infusions will cover losses Fannie and Freddie suffer on home loans, as well as payments the companies must make to the U.S. Treasury in exchange for a federal guarantee to provide cash to keep the companies solvent.
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