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notable
Fannie Mae and Freddie Mac
Fannie Mae and Freddie Mac are government-sponsored enterprises (GSEs) that play a significant role in the U.S. housing market by providing liquidity, stability, and affordability. They do not directly provide mortgages to homebuyers but purchase loans from lenders, which helps keep mortgage money flowing and supports affordable housing.
Fannie Mae, officially known as the Federal National Mortgage Association (FNMA), was created in 1938 during the Great Depression to provide a more dependable source of funding for homebuyers. Freddie Mac, or the Federal Home Loan Mortgage Corporation (FHLMC), was established in 1970.
Both entities are publicly traded companies but have ties to the U.S. federal government, which provides a financial backstop. In September 2008, during the height of the financial crisis, they were placed under the direct supervision of the federal government and remain under conservatorship as of 2024.
Fannie Mae, with over $4.3 trillion in assets, is the largest company in the United States and the fifth largest in the world by assets.
looks like a owl
notable - sundance analysis of the south African incident