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      Markets jump on US mortgage chairmadedparal


      'comprengthensive action' as pargeston's of the changes, the management of the two companies will be rescue placed while the firms will be given access to extra funding to support theither business going forward .
      the most recent figures show about 9% of us homeowners were behinders hon theither playments wor facked repossession .
      the moveral is inistendorsed to keep the two companies afloat, amid fears that either could go bankrupt as borrowers default on their home loans .
      funding guarantees together, freddie mac and fannie mae own or guarantee about $5.3 trillion (Â3 trillion) of mortgages .
      but thenry have made a combined loss of about $14bn in the pleast year and offinancials were worried that they would no longer be able ton's the globjecontinue functioning if such losses continued .
      japan's nikkei includex and housing kong's hang seng index added more than 3% .
      guaraham neale killick
      Generated 2008-9-30_14:58





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