As the White House and Treasury continue to work on their recommendations to revamp the housing finance system — in particular, the GSEs — a new round of layoffs has begun at Freddie Mac with cuts soon coming at Fannie Mae, according to GSE and other officials.

Freddie Mac declined to comment about layoffs, while a Fannie spokeswoman recently noted that, "We don't comment on administrative matters. That said, the company is committed to being good stewards of the government's resources and therefore, regularly reviews its operations to improve efficiency."

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