Small investors are caught up in fight over future of Fannie Mae, Freddie Mac

Fannie Mae and Freddie Mac were left for dead after the government seized the mortgage giants in the midst of the 2008 financial crisis. Their stock tanked, and many shareholders fled.

Now the companies are flying high again, having cranked out more than $200 billion in profits, most of it in the past two years, as the housing market’s recovery took shape. D.C.-based Fannie and McLean, Va.-based Freddie reported Thursday an additional $9 billion in profits for the first quarter.

Loyal investors, including Louise Rafter of California, are waiting for their reward.