FHFA Lays Out Plan To Cut Down Fannie, Freddie

Law360, New York (February 21, 2012, 6:42 PM EST) -- The Federal Housing Finance Agency said in a report to Congress on Tuesday that it wants to develop a unified mortgage-packaging system that can outlive both Fannie Mae and Freddie Mac as part of a broader strategic plan to reduce the mortgage giants' presence in the market.

The FHFA, which has served as the conservator for Fannie and Freddie since the financial crisis of 2008, said that developing a single mortgage-packaging and securitizing structure from the two government-sponsored enterprises' existing tools could create a sort of...
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