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A stockholder-owned corporation chartered by Congress to create a flow of funds to mortgage lenders. Purchases certain residential mortgages that it finances by issuing mortgage pass through securities and debt instruments in the capital markets.
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moneyrocket (98.52) Submitted: 5/14/08 8:18 PM : Start Price: $26.56 FRE Score: 50.16
They are using accounting gimmicks to understate how bad their liquidity position really is. This is nothing more than a legalized ponzi scheme.
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