concerned Fannie Mae and Freddie Mac will expand into businesses where they would compete unfairly with private-sector financial companies.

The trade group, which represents the country's largest banks, said that activities of the government-sponsored enterprises are going beyond what is allowed in their charters. In particular, the Roundtable said the secondary-market agencies are getting too involved in buying home equity and subprime loans and selling real estate. Another concern is that Fannie and Freddie will work directly with consumers, tying mortgage products to other financial services.

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