The Treasury Department's pledge of unlimited support for Fannie Mae and Freddie Mac may foreshadow changes to the Obama administration's Home Affordable Modification Program (HAMP).

The Treasury said last week that it would inject as much money "as necessary" into Fannie or Freddie over the next three years to ensure that the government-sponsored enterprises have positive net worth. Previously the government had committed to buy up to $200 billion of preferred stock in each GSE. Those commitments, from which Fannie has drawn $60 billion and Freddie has taken $51 billion, were scheduled to expire at yearend.

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