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Fannie, Freddie could require up to $190B bailout, report shows
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The Federal Housing Finance Agency (FHFA) released the results of its Dodd-Frank-mandated stress tests on April 30. The stress tests, which were instituted to gauge Fannie Mae and Freddie Mac’s ability to cope with different degrees of financial collapse, showed that the government sponsored enterprises (GSE) could require up to a $190 billion taxpayer bailout in the event of a financial meltdown.
The stress tests are projections based on “what if” scenarios where a variety of factors, such as GSE operations, loan performance, macroeconomic and financial market conditions and home prices are taken into account.
The stress tests reflected three hypothetical economic scenarios: a “base” climate, an “adverse” climate and a “severely adverse” climate.
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