The nation's mega banks and other depositories repurchased roughly $30 billion in residential mortgages from Fannie Mae and Freddie Mac in the second-half of 2009 and will suffer losses of up to 40% on the loans, according to a new report from Credit Suisse.

Penned by Credit Suisse analyst Moshe Orenbuch, the report noted that repurchase volumes are accelerating and will "remain elevated in 2010 and moderate thereafter." 

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