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Feds Step into Secondary Mortgage Market in a Big Way 

Nov 25, 2008By

We’re from the government, and we’re here to help. It’s a funny, odd saying, but on Tuesday the saying rang truer than ever for most secondary mortgage market participants, after the Federal Reserve said it was initiating a program to purchase up to $100 billion GSE direct obligations and $500 billion MBS backed by Fannie Mae [stock FNM][/stock], Freddie Mac [stock FRE][/stock] and Ginnie Mae.

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