The US Treasury Department on Monday said it would start selling-off mortgage-backed securities worth an estimated $142 billion, in an effort to close another chapter of the financial crisis.The department said each month it will offload up to $10 billion in mortgage-backed securities (MBS), assets which bundle together large numbers of mortgages.We will exit this investment at a gradual and orderly pace to maximize the recovery of taxpayer dollars and help protect the process of repair of the housing finance market," said Treasury official Mary Miller.The products, secured by state-backed mortgage giants Fannie Mae and Freddie Mac, were bought as part of the 2008-2009 financial sector bailout.As the housing bubble began to burst the Treasury and Federal Reserve bought up swathes of so-called "toxic assets," when losses appeared to be endangering individual banks and the financial system at large.==========
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The US Treasury Department on Monday
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