Freddie Mac Said to Prepare Mortgage Securities Sharing Risk

Bloomberg reports:

Freddie Mac (FMCC) is preparing to market mortgage securities that will share with investors the risk homeowners don’t repay their government-backed loans, according to a person with knowledge of the plans. 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, said the person, who asked not to be named because terms aren’t set.