The federal regulator for mortgage buyers Fannie Mae and Freddie Mac says rescuing the two companies could cost as much as $363 billion over the next three years, more than double the current total.

The Federal Housing Finance Agency projects the two companies could end up costing taxpayers $221 billion to $363 billion through 2013.

Fannie and Freddie have already received $148 billion from the government. They have been operating under federal control for more than two years after nearly collapsing because of the housing bust.

It's the first time the agency has released a public estimate of the taxpayer tab. The combined bailout of the two companies is on track to be the largest of the financial crisis.

For more information on Fannie Mae CLICK HERE.
For more information on Freddie Mac CLICK HERE.

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