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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.

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14y ago

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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


Can FHA and VA loans be purchased by Fannie Mae and Freddie Mac?

Yes.


Does fannie Mae or Freddy mac own Wells Fargo loans?

Fannie Mae and Freddie Mac do not directly own loans from Wells Fargo; rather, they are government-sponsored enterprises that buy and securitize loans from lenders like Wells Fargo. Wells Fargo originates loans, which may then be sold to Fannie Mae or Freddie Mac for liquidity and to manage risk. This means that while Wells Fargo may service the loans, the underlying mortgage might be owned by Fannie Mae or Freddie Mac after the sale.


What is a conforming mortgage?

Loans meets underwriting guidelines required for Fannie Mae or Freddie Mac to purchase them.


What is a jumbo loan?

Jumbo loans are loans that fall outside Fannie Mae and Freddie Mac loan limit guidelines. Therefore they are considered non-conforming loans that Fannie and Freddie will not purchase. Today the limit is $417,000 in most of the country but may reach $729,750 in areas the government has designated as High Cost for single family homes.


Is BAC Home Loans Servicing a Fannie or Freddie mac loan?

BAC Home Loans Servicing refers to the servicing arm of Bank of America, which handles various types of mortgage loans, including those backed by Fannie Mae or Freddie Mac. Whether a specific loan is a Fannie Mae or Freddie Mac loan depends on the individual loan's characteristics and the investor backing it. To determine the specifics of a loan, you would need to check the loan details or consult with the lender directly.


Did the government backing Fannie May and Freddie Mack and forcing them to lend 40 percent of the loans to underqualified buyers cause the housing bubble and this crisis?

No - Bush and McCain repeatedly called for an investigation into Freddie and Fannie and were just as often called racists for doing so


What services does Fannie Mac offer?

Fannie Mae and Freddie Mac offers services related to loans and housing. Both organizations help families to understand their rights and maximize the opportunities available on the market.


What percentage of the bad sub prime mortgage loans that were made in the U.S. were made through Fannie Mae and Freddie Mac and what percentage of the loans were made by private companies?

tl;dr


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.


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.