If the government is bent on winding down Fannie Mae and Freddie Mac sooner rather than later, then it helps that some major lenders are committing to buy back soured loans from the government-sponsored enterprises all at once, rather than quarter by quarter.

What's unclear is whether banks with significant mortgage exposure will follow the lead of SunTrust Banks (STI), First Horizon (FHN) and PNC Financial Services Group (PNC), or continue to repurchase problem loans in a more piecemeal fashion. Many analysts believe that Fannie and Freddie are showing an increased willingness to work with banks to determine their level of exposure, but note that banks risk angering investors if they take a massive charge in one quarter only to see more problems crop up in future ones.

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