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Fannie Mae Said to Plan $1 Billion Sale of Home Mortgage Bonds

Fannie Mae, the mortgage financier controlled by the U.S. government, plans to sell about $1 billion of home-loan bonds without U.S. backing from its holdings.

The company is offering the non-agency securities from its portfolio in an auction on July 11, according to three people with knowledge of the matter, who asked not to be identified because the sale is private. The Washington-based firm owned about $36 billion of the debt as of Dec. 31, half the amount of its smaller counterpart Freddie Mac, which conducted a similar auction in May as the firms seek to shrink their harder-to-trade assets.