Fannie and Freddie may need another $215 bln – FHFA

NEW YORK, Oct 21 (BestGrowthStock) – Fannie Mae (FNMA.OB: ) and
Freddie Mac (FMCC.OB: ) may need as much as $215 billion in
additional capital from the U.S. Treasury through 2013 to
offset losses and maintain a positive net worth, their federal
regulator said on Thursday.

Cumulative capital needs of the two housing finance giants
that were seized by the government in late 2008 will likely
fall between $221 billion and $363 billion through 2013, the
Federal Housing Finance Agency estimated.

The companies have drawn $148 billion in the form of
preferred stock purchases by the Treasury through the second
quarter of 2010. Dividend payments on the preferred stock are
making up larger portions of the capital needs as time passes,
the FHFA said in a statement.

(Reporting by Al Yoon, Editing by Chizu Nomiyama)

Fannie and Freddie may need another $215 bln – FHFA