In US housing who are Fannie and Freddie?

zbeckabee

The Federal National Mortgage Association (FNMA) (NYSE: FNM), commonly known as Fannie Mae, is a government sponsored enterprise (GSE) of the United States federal government. It is a shareholder-owned corporation authorized to make loans and loan guarantees. http://en.wikipedia.org/wiki/Fannie_mae The Federal Home Loan Mortgage Corporation ("FHLMC") NYSE: FRE, commonly known as Freddie Mac, is a government-sponsored enterprise (GSE) of the United States federal government. http://en.wikipedia.org/wiki/Freddie_Mac Jul 15 08, 6:26 PM

truefaithmom

Fannie Mae, Federal National Mortgage Association (FNMA)and Freddie Mac, Federal Home Loan Mortgage Corporation (FHLMC) "Fannie Mae is a private, shareholder-owned company that works to make sure mortgage money is available for people in communities all across America. We do not lend money directly to home buyers. Instead, we work with lenders to make sure they don't run out of mortgage funds, so more people can achieve the dream of homeownership." "Freddie Mac is a stockholder-owned corporation chartered by Congress in 1970 to keep money flowing to mortgage lenders in support of homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage pass through securities and debt instruments in the capital markets. By doing so, we ultimately help homeowners and renters get lower housing costs and better access to home financing." http://www.creativeinvest.com/fnma/fnmapr12.html Jul 15 08, 6:29 PM