FACTBOX - Winners and losers from bailout of Fannie-Freddie

NEW YORK (Reuters) - Potential winners and losers from the U.S. government bailout of mortgage finance companies Fannie Mae and Freddie Mac, based largely on research notes and comments from investors and analysts over the past 24 hours:

LIKELY WINNERS

- Major banks, which would benefit from any increased stability in the credit markets; in the longer term, banks with large mortgage businesses such as Bank of America may have an opportunity to take over some of the Fannie and Freddie business.

- Homeowners seeking to stave off foreclosure may be able to refinance at lower rates than available before.

- Buyers of new homes who might pay lower rates; with the government behind Fannie and Freddie, more mortgages should be available.

- Short sellers of Fannie and Freddie common stock will have benefited, after the companies' shares slid more than 80 percent on Monday.

- Holders of Fannie and Freddie debt, such as PIMCO, should benefit; prices of the debt rose relative to prices of Treasury bonds.

- Foreign governments and central banks, which are big holders of Fannie and Freddie debt.

- Homebuilders and home improvement companies if the housing market stabilizes as a result of the government rescue.