``Both Freddie Mac and Fannie Mae are required to pay everything above $3 billion to the Treasury in return for taxpayer aid under existing bailout terms.

The two companies have paid nearly $132 billion in dividend payments. Freddie expects to pay the Treasury the $4.4 billion dividend payment by September, bringing Freddie's total to roughly $41 billion as the amount of dividends it will have paid to the Treasury. The company has drawn $71 billion in federal aid, which leaves taxpayers on the hook for about $30 billion.

The debate over how to restructure Fannie Mae and Freddie Mac, along with the broader mortgage market, has kicked off in Congress. President Barack Obama said on Tuesday he wants a smaller federal role in the housing finance system. Any new structure is expected to take years, as lawmakers dismantle and replace the companies.''

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