NEW YORK (MarketWatch) -- The Federal Reserve said Tuesday that it will start a program to buy up to $100 billion in direct obligations of housing-related government-sponsored enterprises, such as Fannie Mae , Freddie Mac and the Federal Home Loan Banks, as well as up to $500 billion in mortgage-backed securities backed by Fannie Mae, Freddie Mac and Ginnie Mae. The Fed said the move will help reduce the cost and increase the availability of credit for home buyers, which would then help support the housing market. Separately, the Fed also unveiled its new Term Asset-Backed Securities Loan Facility, a plan under which it will lend up to $200 billion to support the issuance of debt backed by consumer and small business debt like credit card loans, student debt, auto loans and loans backed by the Small Business Administration.
