Rochester, NY 9/4/2009 5:36:09 PM
FRE Freddie Mac Trade Group Seeks to Fannie Mae and Freddie Mac Break-up
FRE Freddie Mac
According to reports from the Wall Street Journal, the Mortgage Bankers Association is asking Congress to break-up Fannie Mae and Freddie Mac into several smaller privately held companies. The trade group is proposing a framework that would give successor entities to Fannie and Freddie the authority to create securities backed by certain types of mortgages.
Last Trade: 1.87
Day's Range: N/A - N/A
Trade Time: Sep 3
52wk Range: 0.00 - 5.49
Change: 0.00 (0.00%)
Volume: 100
Prev Close: 1.87
Avg Vol (3m): 55,975,200
Open: N/A
Market Cap: 1.21B
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ABOUT Freddie Mac
Freddie Mac purchases residential mortgages and mortgage-related securities in the secondary mortgage market and securitizes them into mortgage-related securities that can be sold to investors. It operates in three segments: Investments, Single-family Guarantee, and Multifamily. The Investments segment invests primarily in mortgage-related securities and single-family mortgage loans; purchases mortgage loans and mortgage-related securities; and issues short- and long-term debt in the capital markets. The Single-Family Guarantee segment engages in the purchase of single-family mortgages in the primary mortgage market, primarily through its guarantor swap program; securitizes certain mortgages; issues mortgage-related securities that can be sold; and guarantees the payment of principal and interest on single-family mortgage-related securities.
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