Freddie Mac said in its second-quarter 10-Q filing that "as of June 30, 2012, our annual cash dividend obligation to Treasury on the senior preferred stock of $7.2 billion exceeded our annual historical earnings in all but one period," and that "as a result, we expect to make additional draws in future periods, even if our operating performance generates net income or comprehensive income."
Meanwhile, Fannie and Freddie are more important to the U.S. housing finance market than ever, with the government-sponsored enterprises purchasing or guaranteeing "about $100 billion in home purchase and refinanced mortgages each month," according to the FHFA.
Nearly four years on, neither Congress nor President Obama have settled on what the future will hold for Fannie Mae and Freddie Mac, which continue to purchase the great majority of newly originated home loans in the United States.
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