Word of a proposed tax on Fannie Mae and Freddie Mac and a privatization plan for Ginnie Mae sent shares of the government-sponsored enterprises sharply lower Monday.

Fannie's shares fell $1.875, to $72.125, and Freddie's $2.9375, to $61.50, on word that the Office of Management and Budget is considering including the two plans in the 1999 budget proposal due to go to Congress in February.

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