Fannie Mae chairman Franklin Raines has told investors that he wants to move away from the view that mortgages are a commodity and toward the notion that loan products can be custom-made.During a webcast from Salomon Smith Barney's financial services conference, Mr. Raines said the government-sponsored enterprise has about $1.4 billion in guarantee fees from upfront payments Fannie charges to offset the higher risk of newer products the company is offering in pursuit of that customization goal. He characterized these loans as part of the alternative-A credit risk market. Fannie Mae can be found online at http://www.fanniemae.com.
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