Mortgage Giants Fannie, Freddie to Lose Free Advances From Fed - 2004-02-06
The Federal Reserve said yesterday that it will cease providing mortgage-funding giants Fannie Mae and Freddie Mac, and the 12-member Federal Home Loan Bank System, interest-free advances that save the government-sponsored enterprises tens of millions of dollars a year.

The policy change, which will be implemented in July 2006, comes as the Bush administration and key members of Congress are pushing for tougher oversight of the GSEs since the $5 billion accounting scandal at Freddie Mac.
Read the full story at BBC

Metropolitan Mortgage bankruptcy filing angries investors - 2004-02-06
Investors in Metropolitan Mortgage & Securities and its sister company, Summit Securities, reacted with concern to the companies' plans to restructure and trade in their debt securities for shares in the new business.

Some people, like John Elliott of Cambridge, Mass., were deeply skeptical of the Spokane companies' debt-for-equity proposal, made as part of Wednesday's bankruptcy filing.
Read the full story at Seattle Times