The financial intermediary services provided by Fannie Mae and Freddie Mac were designed to

The financial intermediary services provided by Fannie Mae and Freddie Mac were designed to
A . Offer loans directly to the consumer
B . Compete directly with banks in selling mortgaged to would-be home owners
C . Repackage mortgage loans made by banks and sell them on to investors as asset backed securities
D . Buy mortgage-backed loans for banks and keep them all on their books, using them as collateral for the US government to borrow

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Answer: C