US lawmaker pushes Wall Street on high-cost GSE loans
WASHINGTON, Aug 14 (Reuters) - U.S. Representative Barney Frank is urging Wall Street to include high-cost mortgages from Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) in the most liquid market for home loan investments, according to a letter obtained by Reuters on Thursday.
The letter, dated August 12 and signed by Frank, the House Financial Services Committee Chairman, and California Republican Gary Miller, said including those loans could help reduce borrowers' costs and help bring liquidity to all segments of the housing market.
(Reporting by John Poirier and Patrick Rucker)
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