News Journal

Fannie Mae and Freddie Mac get benefits from Fed

The biggest buyer of the home mortgages Fannie Mae and the company Freddie Mac is getting benefited by the Federal regulators as it allowed the company to get the amount of loans and securities without limits.The step is considered to ease the housing market. The changes have been made by Fed because these companies have also started filing financial reports on time.

The two biggest mortgage companies reported losses in the last year for the falling house markets. Fannie Mae registered a loss of $2.05 billion in 2007.The companies are holding more capital than required by law and that is also been considered by the Fed.