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+ - SPAM: OBAMA TO BACK MORTGAGE FINANCE REFORM TO SPEED HOUSING RECOVERY

Submitted by anthonycarlson
anthonycarlson writes: Obama will propose eliminating mortgage finance entities Fannie Mae and Freddie Mac over time, replacing them with a system in which the private market buys home loans from lenders and repackages them as securities for investors, senior administration officials said. The mortgage securitization process is deemed essential to the smooth flow of capital to housing markets and the availability of credit.
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