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Thursday, September 20, 2007

Paulson: Boosting the stretched mortgage market

September 19 2007
Shifting course, Treasury Secretary Henry Paulson planned to tell Congress that the Bush administration would consider allowing the big mortgage companies Fannie Mae and Freddie Mac to temporarily buy, bundle and sell as securities loans exceeding $417,000. This change, which the Bush administration opposed in the summer, is portrayed as a way to inject liquidity into the stretched mortgage market. Paulson said the change involving jumbo loans could occur only in tandem with tighter oversight of the two government-sponsored mortgage companies, according to a person familiar with the secretary's testimony prepared for a House hearing Thursday.


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