Mortgage giant losses could reach $400 billion

Fannie Mae and Freddie Mac logos

Fannie and Freddie regulator argues against restoring cap

Costs to taxpayers from Fannie Mae and Freddie Mac could reach as high as $400 billion, the regulator of the nationalized housing giants said Wednesday, though he predicted that the red ink isn’t likely to climb to that point.

“In less-severe stress scenarios, losses are much less than that,” Edward DeMarco, acting director of the Federal Housing Finance Agency, said at a congressional hearing.Read more

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