Fannie Mae, Freddie Mac Getting Receivership Contingency Plan
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The U.S. regulator overseeing Fannie Mae, Freddie Mac and the Federal Home Loan Banks has hired a consulting firm to create contingency plans for taking the mortgage-finance firms into receivership, according to contract documents.
The plan is part of “ordinary regulatory activities” and does not indicate that the Federal Housing Finance Agency intends to take the companies or the banks into receivership, agency spokeswoman Denise Dunckel said. Receivership would involve winding down the companies and selling off their assets.