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US Regulator Names Firm That Could Replace Federal National Mortgage Association, Federal Home Loan Mortgage Corp-Reuters

Monday, 7 Oct 2013 04:44pm EDT 

Reuters reported that the regulator overseeing major mortgage finance sources Federal National Mortgage Association (Fannie Mae) and Federal Home Loan Mortgage Corp (Freddie Mac) on October 7, 2013, said it filed legal paperwork to create a common platform for the two firms to issue mortgage-backed securities. The regulator, the Federal Housing Finance Agency, said in a statement it established a new company called Common Securitization Solutions, LLC, as a limited liability company in the state of Delaware. The joint venture is intended to help securitize home loans and consolidate some of functions currently replicated by Fannie Mae and Freddie Mac. The new company could eventually be privatized or merged into the government. Fannie Mae and Freddie Mac will have to abandon their separate systems. 

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