Freddie Mac wants to be more competitive with the Wall Street conduits in securitizing hybrid adjustable-rate mortgages.Freddie's president and chief operating officer, Eugene McQuade, told a Lehman Brothers Financial Services conference in London that many consumers are shifting to intermediate five-year and 10-year hybrids and away from 30-year fixed-rate mortgages. To address this shift in the market, Freddie Mac is retooling its hybrid product line to compete with the private-label securities market. "In order for us to compete, we need a much stronger product set," Mr. McQuade said. Freddie Mac can be found on the Web at http://www.freddiemac.com.
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