Mortgage fun facts II
Fannie Mae dates back to 1938 and was created by President Franklin Roosevelt to free up money for lenders, according to Time. Freddie Mac was created in 1970, just after Fannie Mae became a publicly traded company. I don’t think the government ever anticipated the two organizations becoming as large as they are now. Today, Freddie and Fannie combined own or guarantee about half of the mortgages in the country.
From the community:
- Is Buying a Fixer-Upper Home Worth the Investment?
- Everything You Need to Know About Down Payments When Purchasing a Home
- Mortgage Payments and Calculators – Everything You Need to Know
- What is a Home Warranty and is it Right for You?
- Move Like a Pro: Tips on How to Make Moving Houses Less Stressful
