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The Federal Home Loan Bank System was actually the product of the Herbert Hoover administration. Hoover had been the Secretary of Commerce and had always wanted to develop a better system for financing home purchases. The Federal Home Loan Bank Act of 1932 created the FHLBank System. Interestingly, when Roosevelt became president there was little appetite for the FHLBank System because the System did little to help home owners facing foreclosure. Rather than get rid of the FHLBank System, Democrats in Congress along with Roosevelt amended the Act and created the Home Owner Loan Corporation which provided immediate short-term relief to home owners by modifying their loans. For more about the Federal Home Loan Bank System take a look at the book, Mission Expansion in the Federal Home Loan Bank System (SUNY Press, 2010).
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Is a home mortgage debt considered a federal debt?
No. A federal debt is a debt that is owned to the federal government. A home mortgage is a debt that is owed to the lending agency, be it a bank, a mortgage company, etc.
Philadelphia is home to the first federal structure comissioned by the federal government what is it?
The U. S. Mint
Was the role of the federal housing administration?
To insure home loans
Who is the president of the Federal Home Loan Mortgage Corporation?
Maxine B. Baker is the president of the Federal Home Loan Mortgage Corporation which is also referred to as Freddie Mac. She is also the CEO of the company.
The ability to run state governments without federal intervention?
Under home rule, it was established that the ability to run state governments could be done without federal intervention
