Posted by: youngragingbull | March 4, 2013

Regulator announces Fannie & Freddie part-merger plan

Federal Housing Finance Agency Acting Director Ed DeMarco said Monday that the agency is working on a plan to merge some of the operations of mortgage giants Fannie Mae and Freddie Mac.

The plan is that a new venture, separate from the two firms, will operate a secondary mortgage market infrastructure that will be used by Fannie and Freddie.

DeMarco said while the new firm would initially be used and funded by Fannie and Freddie, it could either be sold or used “as a foundational element of the mortgage market of the future.”

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