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Freddie Mac eyes expansion in apartment financing: report
NEW YORK |
NEW YORK (Reuters) - Freddie Mac FRE.N is set to propose to its management and regulators that it be allowed to create and sell bonds backed by multifamily mortgages, a move that would help it expand into apartment financing, The Wall Street Journal reported on Monday.
The report said the second-largest U.S. provider of home loan financing, under the proposal, would buy mortgages secured by apartment units from a network of lenders, and sell them as loans or securities backed by those loans.
The proposal must be approved by senior management and its regulator, the Office of Federal Housing Enterprise Oversight, it said.
The company was not immediately available for comment. (Reporting by Ritsuko Ando)
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