![]() ![]() Fannie Mae, the larger of the two finance companies, is more than halfway through its review of loans to try to sell back to banks and is mainly focusing on that four-year period, a source familiar with the matter said.įannie Mae and Freddie Mac buy mortgages from banks and bundle the loans into bonds that get sold to investors. But the end of the fighting may be in sight. The government-controlled companies are squabbling with banks over who should bear the burden of losses from the housing crunch, in particular loans made between 20, when the market was at its frothiest.įannie Mae and Freddie Mac’s efforts will translate to higher mortgage losses for banks in the coming quarters. (Reuters) - Government-owned Fannie Mae and Freddie Mac are stepping up efforts to find bad home loans that they can force mortgage lenders to buy back from them, providing an increasingly bigger headache to banks.
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