Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) plans to sell $966 million of bonds tied to the risk of homeowner defaults after a similar bonds issued earlier posted strong gains. The new bond issue proposal comes amid legislation introduced this month by the leaders of the Senate banking committee to replace the government sponsored enterprises. Risk sharing bonds The risk-sharing mortgage bonds are designed to shift some of the risk of a housing crisis from Fannie Mae / Federal National Mortgage Assctn Fnni Me (OTCBB:FNMA) and Freddie Mac / Federal Home Loan Mortgage Corp (OTCBB:FMCC) to the buyer of…
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