Franklin Raines
Fannie Mae’s history goes back to the Great Depression. It was created as part of the New Deal with a mandate to help low- to middle-income borrowers become homeowners and thus reinvigorate the housing market. Who Regulates Fannie Mae? After receiving $187 billion in bailouts due to the 2...
It is one of several government-sponsored enterprises (GSEs) established since the early 20th century to help reduce the cost of credit to various borrowing sectors of the economy. Its headquarters are in Washington, D.C. The Federal National Mortgage Association, commonly known as Fannie Mae, ...
Fannie Mae's (FNM) MyCommunity Mortgage was at the forefront of the credit crisis, and had many sub-programs, all targeted at low income communities and borrowers. These programs supposedly highlighted the mission that made these GSEs as essential: they
Codes (SWIFT, TIN, LEI) LEI B1V7KEBTPIMZEU4LTD58 SWIFT FMAEUS33XXX SIC 6111 FEDERAL & FEDERALLY-SPONSORED CREDIT AGENCIES ICB 8,700 Financial Services CIK 0000310522 Credit and ESG Ratings Current History Agency Rating/forecast Scale Date Sustainalytics *** ESG Risk Rating ***Bond...
Fannie Mae officials stress that the new mortgages will be extended to all potential borrowers who can qualify for a mortgage. But they add that the move is intended in part to increase the number of minority and low income home owners who tend to have worse credit ratings than non-Hispanic...
First, let me review a little of the history of how we got here. Fannie Mae (otherwise known as the Federal National Mortgage Association) was created by an act of the United States Congress in 1938 as a government-sponsored enterprise (GSE) intended to purchase loans that had been guarante...
Fannie Mae, Freddie Mac GSE, credit crunch ErikRJuly 12, 2008 at 9:38 pm But a bailout does impose gratuitous extra costs on those who had no role in causing the problem. Many taxpayers will bear these costs, while only some taxpayers will reap the benefits of the bailout. Homeowners ...
Fannie Mae does not lend money directly to consumers—it keeps money flowing to lenders like banks and credit unions through purchasing and guaranteeing mortgages. When mortgages Fannie Mae owns or backs enter foreclosure, Fannie Mae attempts to sell the properties quickly to minimize the potential ...
Fannie Mae and Freddie Mac's congressional charters made them Government Sponsored EnterprisesGSEs. Though private, they had ties to the U.S. federal government that was thought to provide a financial backstop, with a line of credit from the U.S. Treasury for $2.25 billion. In September 2008...