Freddie Mac-No Politics (FMCC)

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Lockhart says Freddie, Fannie may sell bad assets: report

By Polya Lesova
Last update: 3:05 p.m. EDT Oct. 5, 2008Comments: 24
NEW YORK (MarketWatch) -- Mortgage giants Fannie Mae (FNM:Fannie Mae
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4:02pm 10/03/2008

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FNM 1.34, -0.22, -14.1%) and Freddie Mac [s:fre] may sell some bad assets to the Treasury Department, but a final decision has not been made, said James Lockhart, director of the Federal Housing Finance Agency, according to a media report Sunday. "They are financial institutions that could sell assets. Whether they will or not certainly the decision has not been made," Lockhart said in a C-SPAN interview, according to Reuters. Lockhart said that between 2% and 4% of Fannie and Freddie's assets are bad mortgages, the report said. Fannie and Freddie were nationalized by the U.S. government in early September.
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