Regulator does not know Fannie, Freddie total aid cost

WASHINGTON, May 11 (BestGrowthStock) – The regulator of mortgage
finance giants Fannie Mae (FNM.N: ) and Freddie Mac (FRE.N: ) said
on Tuesday he does not know how much taxpayers will ultimately
end up shelling out to help the the two companies.

“The actual cost I do not know,” Federal Housing Finance
Agency Acting Director Edward DeMarco said in response to a
question from Kentucky Republican Senator Jim Bunning at a
Senate Finance Committee hearing.

Fannie Mae said on Monday it would need an additional $8.4
billion from the U.S. Treasury and the two firms have now
tapped about $145 billion from the government. The Obama
administration has said it will backstop losses, no matter how
high they go, through 2012.

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(Reporting by Corbett B. Daly; Editing by Chizu Nomiyama)

Regulator does not know Fannie, Freddie total aid cost