Last week, Freddie Mac said no to the Bond Market Association's (BMA) appeal - on behalf of the dealer community, investors and other market participants - to postpone the agency's implementation of the change in its prepayment accounting cycle relating to Gold and ARM PCs.

This change, which is slated to start on July 1, 2001, effectively puts Freddie on the same schedule as Fannie Mae and Ginnie Mae.

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