Treasury will begin selling last batch of mortgage securitie

Treasury will begin selling last batch of mortgage securities

By Martin Crutsinger, Associated Press
Posted 7h 55m ago |

WASHINGTON — The Treasury Department said Monday that it will begin selling its remaining $142 billion in holdings of mortgage-backed securities purchased during the financial crisis.

Treasury officials said the first sales of up to $10 billion in the securities, primarily issued by troubled mortgage companies Fannie Mae and Freddie Mac, would start this month.

Assistant Treasury Secretary Mary Miller said that the sales represented a continuation of efforts by the government to wind down the emergency programs put in place in 2008 and 2009 to help restore market stability.

Treasury estimated it could make a profit of $15 billion to $20 billion on its holdings, depending on market conditions.

“We will exit this investment at a gradual and orderly pace to maximize the recovery of taxpayer dollars and help protect the process of repair of the housing finance market,â€