What is a fannie mae or freddie mac loan
I am suprised you asked this. it was just in the news the other day about Fannie Mae and Freddie Mac being low on funds and trying to figure out HOW to. show more I am suprised you asked this. it was just in the news the other day about Fannie Mae and Freddie Mac being low on funds and trying to figure out HOW to continue to assist people and so on. SHOOT I don't think I have the link any more--but I saw it on my cell phone (mobile browser) in the Reuter's US news website.
Your best solution would be to just Google it. Use the statement Freddie Mac and Fannie Mae recent news stories and that should pull it up.
Fannie Mae was established by congress in 1939 to assist individuals with lower incomes
to obtain homes with a smaller sum of a down payment, etc. I feel they do more than this, but this is the "general purpose" of the organization. It is considered a non profit. Freddie Mac is almost the same thing. Was established in 1970--again by Congress. I forget what paticular "Act" or law put it into action. Freddie Mac is a smaller version of Fannie Mae.
I hope this is of some help to you. I feel you should be able to find a lot of the info on their websites as well.
WHOOPS my bad---Fannie Mae is actually a public shareholder corporation! It looks like the President and CEO recently made a "biggie" statement. It's on the home page of Fannie Mae. Go take a peek.
Good luck in your research.Source: answers.yahoo.com