Changes

In 2007 and 2008, as the residential housing market experienced a sharp decline under the weight of widespread defaults by subprime borrowers, Fannie Mae suffered billions of dollars in losses. On September 6, 2008, Fannie Mae entered conservatorships overseen by the Federal Housing Finance Agency, and the [[U.S. Treasury Department]] began to make substantial purchases of Fannie Mae's senior preferred stock. As of December 31, 2011, Treasury had committed over $183 billion to support Fannie Mae and Freddie Mac.

In 2007 and 2008, as the residential housing market experienced a sharp decline under the weight of widespread defaults by subprime borrowers, Fannie Mae suffered billions of dollars in losses. On September 6, 2008, Fannie Mae entered conservatorships overseen by the Federal Housing Finance Agency, and the [[U.S. Treasury Department]] began to make substantial purchases of Fannie Mae's senior preferred stock. As of December 31, 2011, Treasury had committed over $183 billion to support Fannie Mae and Freddie Mac.

Although it originally was expected to be temporary, the conservatorships have been in place ever since, and there is no end in sight. FHFA estimates that, by the end of 2014, between $220 and $311 billion in financial support will have been drawn from the Treasury, and FHFA’s Acting Director has stated that taxpayers are unlikely to be fully repaid for their support.

Although it originally was expected to be temporary, the conservatorships have been in place ever since, and there is no end in sight. FHFA estimates that, by the end of 2014, between $220 and $311 billion in financial support will have been drawn from the Treasury, and FHFA's Acting Director has stated that taxpayers are unlikely to be fully repaid for their support.

As Fannie Mae was taken into conservatorship in September 2008 it was reported [[Barack Obama]] received more than $126,000 in contributions from the [[government sponsored entity]], among the most of any political candidate for office since 1989.<ref>[https://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html Update: Fannie Mae and Freddie Mac Invest in Lawmakers], By Lindsay Renick Mayer, September 11, 2008. opensecrets.org</ref>

As Fannie Mae was taken into conservatorship in September 2008 it was reported [[Barack Obama]] received more than $126,000 in contributions from the [[government sponsored entity]], among the most of any political candidate for office since 1989.<ref>[https://www.opensecrets.org/news/2008/09/update-fannie-mae-and-freddie.html Update: Fannie Mae and Freddie Mac Invest in Lawmakers], By Lindsay Renick Mayer, September 11, 2008. opensecrets.org</ref>