Reuters: Regulatory News: UPDATE 1-Fannie Mae, Freddie need less gov't funding -regulator

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UPDATE 1-Fannie Mae, Freddie need less gov't funding -regulator Oct 26th 2012, 16:51 Fri Oct 26, 2012 12:51pm EDT WASHINGTON Oct 26 (Reuters) - Fannie Mae and Freddie Mac are expected to ask the government for less funds in the future, the U.S. housing regulator said on Friday, in part because the financial results of the government-controlled companies were substantially better than projected. Fannie Mae and Freddie Mac, which buy mortgages from lenders and repackage them as securities for investors, are expected to draw between $191 billion and $209 billion from the U.S. Treasury by the end of 2015, the regulator said. That is lower than the previous projection of between $220 billion and $311 billion by the end of 2014, the Federal Housing Finance Agency said in a statement. The U.S. Treasury announced steps this summer intended to shrink the size of Fannie Mae and Freddie Mac's investment portfolios more quickly and to divert their profit to taxpayers. Still, it offered little indication of how it intended to wind down its conservatorship of the bailed-out mortgage finance giants, which began at the height of the financial crisis of 2008.

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