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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 ...
An FNMA loan, aka a conforming loan or Fannie Mae-backed mortgage, is a loan or mortgage that has been sold to the Federal National Mortgage Association (FNMA, or Fannie Mae) — or one that meets ...
In testimony before the House and Senate Banking Committee in 2004, Alan Greenspan expressed the belief that Fannie Mae's (weak) financial position was the result of markets believing that the U.S. Government would never allow Fannie Mae (or Freddie Mac) to fail. [70] Fannie Mae and Freddie Mac were allowed to hold less capital than normal ...
Fannie Mae and Freddie Mac, two U.S. government-sponsored enterprises, owned or guaranteed nearly $5 trillion (c. $6.95 trillion in 2023 [289]) trillion in mortgage obligations at the time they were placed into conservatorship by the U.S. government in September 2008. [358] [359]
Fannie Mae and Freddie Mac also have slightly different requirements for the mortgages they purchase. In both cases, Fannie and Freddie loans must be conforming loans , or adhere to these ...
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress.Their intended function is to enhance the flow of credit to targeted sectors of the economy, to make those segments of the capital market more efficient and transparent, and to reduce the risk to investors and other suppliers of capital.
The stocks of Freddie Mac and Fannie Mae — semi-acronyms for Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association — jumped in the hours after Ackman’s comments.
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 ...