0
The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with other GSEs, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as mortgage-backed securities to investors on the open market. This secondary mortgage market increases the supply of money available for mortgages lending and increases the money available for new home purchases. The name, "Freddie Mac", was a creative acronym of the company's full name that had been adopted officially for ease of identification (see "GSEs" below for other examples). On September 8, 2008, Federal Housing Finance Agency (FHFA) director James B. Lockhart III announced he had put Fannie Mae and Freddie Mac under the conservatorship of the FHFA (see Federal takeover of Fannie Mae and Freddie Mac). The action has been described as "one of the most sweeping government interventions in private financial markets in decades".[2][3][4]
Source - Wiki
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
Can you buy a home owned by Freddie Mac with a Fannie Mae loan?
No
What percent of mortgage market is fannie Mae and Freddie mac?
95
Are Fannie Mae and Freddie Mac FHA lenders?
No Fannie Mae and Freddie Mac are not FHA lenders. FHA loans are guaranteed loans and the others are not. FHA loans also have different guidelines and qualification tools.
Fannie Mae and Freddie mac securitize what type of mortgage loans?
Prime
What is the difference between Freddie Mac and Fannie Mae?
The main difference between Fannie Mae (FNMA; Federal National Mortgage Association) and Freddie Mac (FHLMC; Federal Home Loan Mortgage Corporation) is that Fannie May primarily buys mortgages issued by banks and Freddie Mac primarily buys mortgages issued by thrifts. A secondary difference between the two is that Fannie Mae started in 1938 as part of the "New Deal" and Freddie Mac started in 1970 in order to create competition in the secondary mortgage market.
Fannie Mae and Freddie Mac were not the reason behind the economic crisis.?
Fannie Mae and Freddie Mac were not the reason behind the economic crisis.
Will fannie Mae and Freddie mac stock come back?
no
Which president was in office when fannie Mae and Freddie mac mortgage comp first started?
fannie mae= 1938- Democratic President Roosevelt freddie mac= 1970- Republican President Nixon
Can you buy a home owned by Freddie Mac with a Fannie Mae loan?
No
What percent of mortgage market is fannie Mae and Freddie mac?
95
Are Fannie Mae and Freddie Mac FHA lenders?
No Fannie Mae and Freddie Mac are not FHA lenders. FHA loans are guaranteed loans and the others are not. FHA loans also have different guidelines and qualification tools.
Can FHA and VA loans be purchased by Fannie Mae and Freddie Mac?
Yes.
Fannie Mae and Freddie mac securitize what type of mortgage loans?
Prime
Where did the names from Fannie Mae and Freddie Mac originate?
Popular spelling "say as you hear" Fannie Mae = Federal National Mortgage Association - FNMA Freddie Mac - Federal Home Loan Mortgage Corp - FHLMC
who own / finance Litton loan. Is it Fannie May or Freddie Mac?
Fannie Mae owns Litton Loan
What is the difference between Freddie Mac and Fannie Mae?
The main difference between Fannie Mae (FNMA; Federal National Mortgage Association) and Freddie Mac (FHLMC; Federal Home Loan Mortgage Corporation) is that Fannie May primarily buys mortgages issued by banks and Freddie Mac primarily buys mortgages issued by thrifts. A secondary difference between the two is that Fannie Mae started in 1938 as part of the "New Deal" and Freddie Mac started in 1970 in order to create competition in the secondary mortgage market.
Did the Barack Obama campaign receive any contributions from Freddie Mac or Fannie Mae?
According to opensecrets.org, Obama is the second highest recipient (Senator Dodd (D) being number one) of Freddie Mac and Fannie Mae contributions.
