Fannie, Freddie Funding Estimate Drops By $52B

Law360, New York (October 27, 2011, 3:42 PM EDT) -- Mortgage lenders Fannie Mae and Freddie Mac, operating under government conservatorship, may need $52 billion less in U.S. taxpayer money to keep operating than previously estimated, their federal overseer said Thursday.

The Federal Housing Finance Agency estimated the lenders would need to make a maximum capital draw from the U.S. Treasury of $311 billion to keep operating in the black, compared to its maximum funding estimate of $363 billion made last year, the regulator said in a statement.

Fannie Mae and Freddie Mac, the nation's two largest providers of mortgage financing,...
To view the full article, register now.