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Treasury Secretary Henry Paulson announced Monday that he was in favor of temporarily lifting the dollar limit on loans purchased by Freddie Mac and Fannie Mae, allowing them to provide a market for so-called " jumbo mortgages ." Under current rules, the two government sponsored enterprises (GSEs) cannot...
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Congress and the Administration may be headed for a clash on yet another front - the size of Freddie Mac and Fannie Mae's owned portfolios. On Monday Senator Charles Schumer (D-NY) introduced legislation that would provide about $72.5 billion to refinance mortgages for borrowers whose loans have or are...