Likely a part of Fannie Mae's effort to meet capital requirements, the government sponsored entity unloaded a slew of asset-backed securities from its books last week through $9 billion total in private placement re-REMIC deals reportedly consisting entirely of subprime mortgage collateral.

Fannie's move to repackage the triple-A rated bonds in a re-REMIC was likely spurred by its need to get the securities off its balance sheet, sources said.

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