Freddie Mac and Fannie Mae to scale back mortgage guarantor business


US government-sponsored enterprise (GSE) Freddie Mac may reduce its mortgage guarantor activities and scale back the size of its retained portfolio of mortgage-backed securities (MBSs). The possible cutback comes on the back of a sharp drop in the share prices of both Freddie Mac and Fannie Mae last month, which prompted the US Treasury to announce an unprecedented plan on July 13 to shore up the two companies.

In a July 18 filing with the US Securities and Exchange Commission (SEC) - the first

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