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Hedge fund turns Fannie Mae junk into CDO-like securities
Packaged into US$118m of new bonds, the sale allows Bayview Financial to borrow against its investments in mortgage debt
Published Wed, Nov 9, 2016 · 09:50 PM
New York
A FLORIDA hedge fund has transformed risky Fannie Mae and Freddie Mac debt into investment-grade securities, and it could end up helping the mortgage giants' efforts to offload more of their risk.
Bayview Financial packaged junk-rated secu…
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