The two companies essentially were essentially given a blank check from the government late last year when Treasury lifted a $200 billion funding limit for each. The twin mortgage giants have already sucked in $148 billion in order to stay afloat.
And now the federal housing agency is offering projections on how much more money the government-backed mortgage companies will need to maintain positive net worth.
"These projections are intended to give policymakers and the public useful snapshots of potential outcomes for the taxpayer support of Fannie Mae and Freddie Mac," said FHFA Acting Director Edward DeMarco in a statement.
Based on a series of assumptions about the strength of the U.S. housing market and home prices, the projections indicate that Fannie and Freddie will require an additional $73 billion to $215 billion before 2013.
Of course, it's the taxpayer that is funding the bailout, and DeMarco says the report is intended to increase public understanding.
"FHFA is releasing these projections to enhance public understanding of Fannie Mae's and Freddie Mac's financial performance," DeMarco said.
The Congressional Budget Office said in a September report that propping up Fannie and Freddie is expected to cost taxpayers $53 billion between 2011 and 2020.
In August, FHFA released its first ever quarterly report on Fannie and Freddie, which revealed the companies have burned through $226 billion in the last three years.
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