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FHFB Ups Mortgage Aid By $100 Billion

WASHINGTON -- Helping to ease the credit crunch, the Federal Housing Finance Board, which oversees the 12 banks in the Federal Home Loan Bank System, last month announced an increase of $100 billion in securities the banks can buy from Fannie Mae and Freddie Mac.

By Staff Writer | Updated on April 15, 2008

WASHINGTON — Helping to ease the credit crunch, the Federal Housing Finance Board, which oversees the 12 banks in the Federal Home Loan Bank System, last month announced an increase of $100 billion in securities the banks can buy from Fannie Mae and Freddie Mac.

The increase represents a rise to 600% from 300% in capital allowed from these government- sponsored enterprises.

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