FHFA To Combine Fannie, Freddie Back-Office Operations

Law360, New York (March 4, 2013, 7:00 PM EST) -- The Federal Housing Finance Agency on Monday announced plans to create a new company that would handle Fannie Mae and Freddie Mac's back-office functions for mortgage securitizations, a step that could create an eventual replacement for the two mortgage giants.

FHFA acting Director Edward DeMarco said the new entity would reduce duplication of some of the nuts and bolts of mortgage securitizing and could also potentially either be used to bring in new, private money into the mortgage market once lawmakers decide what they want to...
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