Freddie Mac Plans to Begin Sales of Non-Agency Home-Loan Bonds
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Freddie Mac plans to begin selling home-loan bonds without U.S. backing from its holdings as rising property prices help boost their value.
The government-controlled mortgage financier that’s returned to profitability after requiring a taxpayer-funded rescue during the credit crisis is offering $1 billion of non-agency securities from its $121.5 billion portfolio this month, said Tom Fitzgerald, a spokesman. McLean, Virginia-based Freddie Mac expects to sell another $1 billion in June and may offer as much as $5 billion in all this year, he said. Any sales after next month would depend on further appreciation in the securities.