WASHINGTON - Freddie Mac hopes to gain some market share and fee income with a new program that lenders can use to have their loans securitized within one business day, Currently. the Federal Home Loan Mortgage Corp. takes at least five business days to securitize loans, and the Federal National Mortgage Association about the same.

Freddie Mac executives said the time savings would cut borrowing costs for lenders by allowing them to deliver more quickly securities to Wall Street dealers and to repay "warehouse" loans from banks.

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