Freddie Mac is preparing to market mortgage securities that will share with investors the risk homeowners don’t repay their government-backed loans, Bloomberg News reported yesterday. The government-controlled mortgage financier, which typically covers losses after defaults, hired Credit Suisse Group AG to manage its first deal and plans to meet with potential investors in cities including New York, Boston, Chicago and London starting next week. The offering reflects an effort by the Federal Housing Finance Agency to reduce the role of Fannie Mae and Freddie Mac in the residential-mortgage market, where government-backed loans now account for more than 85 percent of lending. The FHFA, which has overseen the firms since they were seized in 2008, has been directing them to raise how much they charge to guarantee their traditional mortgage bonds and asked them to each attempt to share risk this year on $30 billion of home loans.
