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To address this, Fannie Mae was established by the U.S. Congress in 1938 by amendments to the National Housing Act [9] as part of Franklin Delano Roosevelt's New Deal.
Fannie Mae was established by the Congressional Fannie Mae (FNMA) Charter Act in 1938. In the wake of the Great Depression, nearly a quarter of U.S. homeowners lost their properties to foreclosure ...
The Housing and Economic Recovery Act of 2008—passed by the United States Congress on July 24, 2008, with bipartisan support and signed into law by President George W. Bush on July 30, 2008—enabled expanded regulatory authority over Fannie Mae and Freddie Mac by the newly established FHFA, and gave the U.S. Treasury the authority to advance ...
Fannie Mae was established with the intended purpose of creating a more reliable source of accessible funding for banks and mortgage companies. This, in turn, opened the door to more widely ...
Fannie Mae, which was originally restricted to purchasing Federal Housing Administration and Veterans Administration (VA) mortgages (Fannie Mae was permitted to deal in conventional mortgages in 1970), and; Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA ...
Fannie Mae and Freddie Mac were in the news a lot this year. For starters, there was the presidential summit in August, to solicit ideas for what to do with the ailing government-sponsored ...
To provide competition for the newly private Fannie Mae and to further increase the availability of funds to finance mortgages and home ownership, Congress then established the Federal Home Loan Mortgage Corporation (Freddie Mac) as a private corporation through the Emergency Home Finance Act of 1970. [15]
Fannie Mae and Freddie Mac: Basics Fannie Mae was created in 1938 as the Federal National Mortgage Association (FNMA), a financial organization that was owned by the government.