The Obama administration and a federal housing regulator are considering a program to draw private investment back into the government-dominated mortgage market by having Fannie Mae and Freddie Mac sell slices of securities that wouldn’t carry a federal guarantee but would pay a higher interest rate than current mortgage-backed bonds. No decisions have been made, but officials believe a small pilot program could be rolled out sometime next year, according to people familiar with the matter.
Plan floated to spread risk in mortgage bonds
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