Fannie, Freddie Given Free Pass to Grow

Fannie Mae and Freddie Mac, the top providers of funding for U.S. residential mortgages, got a free pass from the government to grow their businesses on Wednesday.

Shares of the government-sponsored enterprises (GSEs) have both jumped about 40 percent since last Friday, recovering some of their steep declines after reporting record losses in recent quarters.

The about-face by investors in Fannie and Freddie resulted from the companies' regulator reducing the capital they must hold against assets, boosting their purchasing power by an estimated $200 billion.

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- Posted: 2008-03-20 08:17:09

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