From 1938 to 1968 Fannie Mae was by far the largest buyer and seller of government-insured mortgages. Congress took steps to increase competition in the secondary mortgage market by privatizing Fannie Mae in 1968 and by creating a similar GSE, the Federal Home Loan Mortgage Corporation, commonly...
Mortgage buyer and insurer Fannie Mae was in the news again this week. 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-...
Fannie Mae’s (FNM)MyCommunity Mortgagewas 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 were doing what the private sector would no...
Fannie Mae takes $2 billion loss: ; Mortgage buyer forecasts steep drop in home pricesMarcy Gordon
Fannie Mae operates a secondary market in home mortgages. This company's business consists of buying and poolingconforming loans.Conforming loansmust meet criteria established by Fannie Mae, including restrictions on the size of the loan and qualifications of the borrower. When buying these loans, th...
Fannie Mae, “Fannie Mae and First American Financial to Provide Lenders with Electronic Access to More Products on MORNETPlus Network; Appraisals, Flood Certificates, and Title Insurance in Offering,” Press Release, Dec. 21, 1999, 2 pgs, Fannie Mae, USA. Raines Franklin D., “Statement by...