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 and Freddie Mac have similar charters, mandates, and regulatory structures. Each buys mortgages from lenders to hold in their portfolios or repackage as MBS that can be sold. In turn, lenders use the money from selling the mortgages to originate more loans. This helps individuals an...
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 is not required to file regular financial reports with the Securities and Exchange Commission (SEC), although in 2002 it began to do so under pressure from SEC and Congressional investigators. In 2004, the SEC required the company to restate several years of earnings statements, allegi...
If you think reform of the mortgage system which includes ridding the world of Fannie (FNMA) and Freddie (FMCC) is likely you might want to consider this. Fannie Mae said it will make a $10.2 billion dividend payment in September to the U.S. Treasury for
Frank’s comments widened the spread on Fannie Mae’s two-year debt and prompted a reaction from the U.S. Treasury Department, which reiterated its financial support for the companies. “There should be no uncertainty about Treasury’s commitment to support Fannie Mae and Freddie Mac as they ...