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      "kind": "callout",
      "text": "Fannie and Freddie facilitate widespread access to the 30-year, prepayable, fixed-rate mortgage at a low cost",
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      "text": "Widespread access to credit: The global capital markets provide a much larger and more stable source of credit than local lending institutions",
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      "text": "Low-cost financing: When interest rates decline, borrowers can refinance, lowering their monthly payments. The high level of liquidity for GSE MBS lowers mortgage interest rates",
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