Fannie Mae, Freddie Mac and Ginnie Mae – Who Are They?
Fannie Mae, Freddie Mac and Ginnie Mae are common names associated with federal lending and home loans. They have offerings that stem from no down payment home loans to helping dislocated residents of disaster areas, to providing assistance to the elderly. If you are any age and are considering a home loan, you’re struggling with mortgage payments and need assistance, or you’re elderly and cannot afford repairs on your home, one of these entities may be able to assist. Who Are Fannie, Freddie and Ginnie? The Federal National Mortgage Association (FNMA), better known as Fannie Mae, and the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac, are government sponsored entities (GSEs). Fannie Mae was originally a federal user established in 1938. In 1968, however, Congress passed legislation enabling the user to become a private enterprise. Freddie Mac was birthed in 1970 for the purpose of expanding the secondary mortgage market. Fannie Mae and Freddie Mac are priv
Related Questions
- I currently sell to Fannie Mae, Freddie Mac, or Ginnie Mae. Do I need to do anything different to my processes to sell loans through MPF?
- What is the nature of the relationship between Fannie Mae, Freddie Mac and Ginnie Mae and the US Government?
- How does Freddie Mac differ from Fannie Mae and Ginnie Mae?
