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Today, Ginnie Mae securities are the only mortgage-backed securities that are backed by the "full faith and credit" guaranty of the United States Federal Government, although some have argued that Fannie Mae and Freddie Mac securities are de facto or "effective" beneficiaries of this guarantee after the Federal Government rescued them from ...
Federal first-time homebuyer programs: Loans and programs backed or offered by the federal government State, non-profit and employer-sponsored programs: Homebuying assistance at the local level
There are numerous types of government-backed loans, which vary dependent on the country and status of the borrower. Arguably, the most widely known type of government-backed loan is the US Federal Housing Administration FHA loan, in existence since 1934. Other types of government-backed loans include the following:
In 1970, the federal government authorized Fannie Mae to purchase conventional loans, i.e. those not insured by the FHA, VA, or FmHA, and created the Federal Home Loan Mortgage Corporation (FHLMC), colloquially known as Freddie Mac, to compete with Fannie Mae and thus facilitate a more robust and efficient secondary mortgage market. [16]
Backed by the Federal Housing Administration, FHA loans have three main refinancing options: An FHA streamlined refinance is a quick and straightforward refinancing option for current FHA loan ...
An FHA mortgage is a mortgage loan insured by the Federal Housing Administration. This government-backed loan program is a popular choice for first-time borrowers because you don’t need a big ...
Location of the territories for the 11 (previously 12) FHLBanks, post-merger of the Seattle and Des Moines banks in 2015. The Federal Home Loan Banks (FHLBanks, or FHLBank System) are 11 U.S. government-sponsored banks that provide liquidity to financial institutions to support housing finance and community investment.
Hold a government-back mortgage: In addition to FHA-backed loans, mortgages backed by the U.S. Department of Agriculture’s (USDA) or the Department of Veterans Affairs (VA) also qualify.