Today we have guest post from our friends over at Realized Volatility regarding the recent NPR/ProPublica piece on the mortgage giant GSE (Government Sponsored Enterprise) Freddie Mac.  RV gives some great insight into the mortgage backed security market and the general operations of the big GSE’s –

Let’s dive into the compelling arena of mortgage finance.  Specifically, we are going to take an inside look at the big GSEs (Fannie, Freddie, the like).