Auszug:
Fannie Mae and Freddie Mac would be replaced by a Federal Mortgage Insurance Corp. that would continue efforts to build a common securitization platform to help small lenders issue securities. It also would continue the two companies’ existing multifamily guarantees.
The new corporation would be allowed to cover a greater share of the losses in an “unusual and exigent circumstance” that threatens the mortgage credit availability and the housing finance system, according to the draft. Such assistance would be limited to six months once every three years. |