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Writers such as Peter Wallison, a former Wall Street lawyer, Republican political figure, and longtime advocate of financial deregulation and privatization, argue that it was government intervention, such as allegedly requiring Fannie Mae and Freddie Mac to lower lending standards, [97] that caused the crisis in the first place and that ...
Economist Paul Krugman and attorney David Min have argued that Fannie Mae, Freddie Mac, and the Community Reinvestment Act (CRA) could not have been primary causes of the bubble/bust in residential real estate because there was a bubble of similar magnitude in commercial real estate in America [71] — the market for hotels, shopping malls and ...
Investors are ramping up bets that Trump 2.0 will loosen the federal government’s grip over mortgage giants Freddie Mac and Fannie Mae, ending one of the oldest fights on Wall Street.
Fannie Mae's Reston, Virginia, facility. The GSE business model has outperformed any other real estate business throughout its existence. According to the Annual Report to Congress, [13] filed by the Federal Housing Finance Agency, over a span of 37 years, from 1971 through 2007, Fannie Mae's average annual loss rate on its mortgage book was about four basis points.
Franklin Raines earned $90 million in salary and bonuses while he was head of Fannie Mae. [258] Fannie Mae and Freddie Mac are government sponsored enterprises (GSE) that purchase mortgages, buy and sell mortgage-backed securities (MBS), and guarantee nearly half of the mortgages in the U.S. A variety of political and competitive pressures ...
Fannie Mae and Freddie Mac (also known as the FHLMC) are two separate entities. While both were established as government-sponsored enterprises (GSEs) and purchase mortgages, and both are under ...
The Act amended the charter of Fannie Mae and Freddie Mac to reflect the Democratic Congress' view that the GSEs "have an affirmative obligation to facilitate the financing of affordable housing for low- and moderate-income families in a manner consistent with their overall public purposes, while maintaining a strong financial condition and a ...
Ginnie Mae and Fannie Mae are both key players in the home mortgage business. The two organizations help make home loans available and affordable by increasing lenders' access to funds through the ...