Federal Home Loan Mortgage Corporation

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Countrywide Financial Corp. is accused of loosening its standards for making loans while telling Fannie Mae and Freddie Mac, which were buying loans from Countrywide, that the standards were getting tighter. (Associated Press)

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Freddie Mac, the mortgage giant, posted a gain for the second quarter and isn’t requesting any additional federal aid for the period. This is the fifth quarter in which Freddie hasn’t requested new federal aid since it was taken over in September 2008. (Associated Press)

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Illustration: Fannie Mae and Freddie Mac by John Camejo for The Washington Times

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Edward DeMarco, acting director of the Federal Housing Finance Agency, says reshaping Fannie Mae and Freddie Mac requires spreading lending risks. (Associated Press)

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** FILE ** Mortgage giants Fannie Mae and Freddie Mac (Associated Press)

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As home sales begin to show modest gains months after massive federal rescue efforts took place to securitize faulty mortgages owned by Fannie Mae and Freddie Mac, analysts worry that the housing market may collapse when the government begins to draw back its support and that it may not be able to extract itself as planned.ASSOCIATED PRESS