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Which president was in office when fannie Mae and Freddie mac mortgage comp first started?
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∙ 15y ago
fannie mae= 1938- Democratic President Roosevelt freddie mac= 1970- Republican President Nixon
Wiki User
∙ 15y ago
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Who was president of the US when fannie Mae was started?
RICHARD nIXON
Why did the federal government take over fannie Mae and Freddie mac?
The federal government took control of Fannie Mae and Freddie Mac on Sunday in a bid to keep the two mortgage giants from failing, catastrophes that would have made home loans harder to get and taken the nation's housing collapse to a new level of crisis.
What year did Fannie Mae start?
WHAT YEAR DID FANNIE MAE START?
Federal government affect interest rates?
The federal government affects interest rates more than any other factor. They set the Fed Funds rate and the Prime rate. Fannie Mae, Freddie Mac, FHA. VA, and USDA loans are all backed or guaranteed by the federal government. Most of these loans are securitized into mortgage-backed bonds. Thus the coupon rates and performance of these bonds directly affect rates.
How did fannie Mae become involved with the government?
Part of Roosevelt's depression recovery program. It was one of many "GSE" or government sponsored enterprises. Fannie Mae was later privatized. Greenspan and Bernanke have described Fannie Mae and Freddie Mac as private corporations, having an ambiguous relationship with our the federal government. As private corporations, they could generously reward their CEO's during the housing boom and have limited disclosure of their loans. Obviously, the take over removes this ambiguity. See: http://en.wikipedia.org/wiki/Fannie_Mae
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.
What is the difference between Fannie Mae and Freddie Mac loans?
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.
What percent of mortgage market is fannie Mae and Freddie mac?
95
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
What is a conforming mortgage?
Loans meets underwriting guidelines required for Fannie Mae or Freddie Mac to purchase them.
When did the mortgage companies Fannie Mae and Freddie Mac crash and how is the US government going to rescue them?
No one really knows.
What is the purpose of a conforming mortgage?
Fannie Mae worked with Freddie Mac to develop uniform mortgage documents and national standards for what would come to be known as conforming loan .
What is the meaning of the name Freddie Mac?
The company is called "Federal Home Loan Mortgage Corporation". The abbreviation is FHLMC, which should, but does not, sound like "Freddie Mac" See also Federal National Mortgage Association (FNMA)= Fannie Mae.
How can you find out if your mortgage is insured by fannie may or Freddie mac?
FNMA & FHLMC are not insurers they buy mortgages in the secondary market. FNMA & FHLMC can "own" your mortgage but your mortgage would be insured by a "Private Mortgage Insurance" (PMI) Company.
I just got my bankruptcy discharged. Is there any way I can get a mortgage that is not supported by either fannie mae or freddie mac?
Freddie and Fannie don't actually support mortgages but rather securitize them. There's a table here showing what loans fannie and freddie securitize: http://www.fanniemae.com/aboutfm/loanlimits.jhtml . In theory, a portfolio lender that simply holds onto loans and never resells them could write you a mortgage even below these amounts and simply hang onto it. That said, the chances of finding anyone willing to do this are near nil.
Who was president of the US when fannie Mae was started?
RICHARD nIXON
