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The regulator of U.S. government-controlled Fannie Mae and Freddie Mac is looking at ways the two firms might help finance small mortgage banks hobbled by a dearth of credit, the Wall Street Journal reported.
The WSJ, quoting a Federal Housing Finance Agency (FHFA) spokeswoman, said the regulator is exploring options through which the two mortgage finance companies might help revive the market for warehouse loans - a key source of funds to mortgage banks.
A detailed plan for Fannie and Freddie to help mortgage banks get credit should be ready to be presented to the FHFA within about a week, John Courson, chief executive officer of the Mortgage Bankers Association, told the paper in an interview.
Fannie Mae [FNM
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] and Freddie Mac [FRE
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] were nationalized in September as losses at the companies mounted and a national foreclosure crisis deepened.
Reuters efforts to contact both companies out of regular office hours were unsuccessful.
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Data is a real-time snapshot *Data is delayed at least 15 minutes