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To: orkrious who wrote (194204)9/29/2002 1:37:52 AM
From: smolejv@gmx.net  Respond to of 436258
 
>>.... which has led to a very large mismatch between the life on these assets and the much more stable life on the liabilities funding them. Result: the portfolio of mortgages runs off very quickly, while the high cost liabilities remain.<< Somebody quoted (I guess it was on prudentbear) 15 months hole (assets life time shortened through refinancing) that recently opened under FNM. Freddie is better off with a gap of a month or two only.

RegZ

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