Industry NewsMortgage

Fannie, Freddie don’t plan to borrow from feds

Paulson speaks to Senate about GSEs' challenges
Published on Jul 15, 2008

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A government plan to extend a line of credit to Fannie Mae and Freddie Mac and buy stock in the companies if needed was not prompted by any sudden deterioration in Fannie's or Freddie's bottom lines, and neither company has immediate plans to borrow from the government, Treasury Secretary Henry Paulson told Senate lawmakers today.

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