Combined, Fannie Mae and Freddie Mac have over $5.1 trillion in debt through MBS and debt: This is larger than the size of the United States publicly held debt. If the government were to take on the GSEs this would not only jeopardize our financial security, it may damage our country’s credit rating (what is left of it)!
Second, Fannie Mae and Freddie Mac guarantee the timely payment of principal and interest on the mortgages they securitize. Investors pay a guarantee fee and eliminate credit risk. Thus, these two mortgage giants increase the amount of funds available in the mortgage market, and provide an attractive mortgage alternative for investors.
A Brief History of Fannie Mae and freddie mac. fannie Mae and Freddie Mac are America’s two largest mortgage companies, together holding or guaranteeing some $5 trillion in debt. Their names are semi-acronyms for their original government monikers: the Federal National Mortgage Association (Fannie) and the Federal Home Loan Mortgage Corporation.
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Fannie Mae and Freddie Mac also can help stabilize mortgage markets and protect housing during extraordinary periods when stress or turmoil in the broader financial system threaten the economy. The Enterprises’ support for mortgage lending that finances affordable housing reduces the cost of such borrowing.
What Is the Difference Between Fannie Mae and Freddie Mac? Fannie Mae and Freddie Mac are government-sponsored companies under the Federal Housing Finance Agency. It may look as if these companies are two birds of a feather. Yet, their differences range from the year of establishment to the down payment terms.
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July 2008 Shares in Freddie Mac and Fannie Mae plummeted amid speculation that a bailout of the government-sponsored mortgage financiers may be required, and that such a bail-out would leave.
Fannie Mae and Freddie Mac had a positive influence on the mortgage market by increasing homeownership rates in the United States; however, as history has proved, allowing Fannie Mae and Freddie.
History of Fannie Mae and Freddie Mac. They have been regulated by the US Department of Housing and Urban Development since 1968 and 1989, respectively. However, Fannie Mae is more than 40 years old. President franklin delano roosevelt’s New Deal created Fannie Mae in 1938 to help jump start the national housing market after the Great Depression.