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For clarity, the code was inserted as a portion of a lawsuit filed by (then) NY Attorney General Andrew Cuomo against Federal Government controlled (owned) FNMA and Freddie Mac. Even though a small part of the entire suit, the AG's office widely publicized that portion. Many who researched the background of the suit came to the same conclusion.
Today, Ginnie Mae securities are the only mortgage-backed securities that are backed by the "full faith and credit" guaranty of the United States Federal Government, although some have argued that Fannie Mae and Freddie Mac securities are de facto or "effective" beneficiaries of this guarantee after the Federal Government rescued them from ...
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 ...
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 ...
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 ...
Freddie Mac was named one of the Best Places to Work for LGBTQ Equality in Human Rights Campaign's 2018 Corporate Equality Index [52] Freddie Mac was named one of the 100 Best Companies for Working Mothers in 2004 by Working Mothers magazine. Freddie Mac was ranked number 50 in the Fortune 500's 2007 rankings. [53]
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 ...
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 ...