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Welcome to the foreclosure deals.com video guide on Fannie Mae and Freddie Mac in this video we will share a brief history of these two Uses or government-sponsored enterprises what they were created for and the recent changes they've experienced due to the 2007-2008 housing market crisis we will also explain the requirements necessary to purchase foreclosures from either entity and where to find the most recent listings for Fannie Mae and Freddie Mac foreclosure deals Fannie Mae an acronym for the federal National Mortgage Association or FNMA was created 1938 during the Great Depression under President Roosevelt's New Deal package its initial purpose was to encourage growth in the secondary mortgage market by buying up mortgages in bulk from Savings and Loan associations and other depository institutions and then reselling them to brokers mortgage bankers and other primary mortgage lenders these institutions in turn could offer cheaper homes to a recovering economy ensuring that more Americans nationwide could own their own homes thus providing stability and liquidity to the housing market by 1968 Fannie Mae had become a monopoly over the industry due to its government agency status therefore President Johnson's privatized Fannie Mae in order to distance it from the government and allow for a more competitive playing field however even though it was now considered a private lending institution Fannie Mae retained its government backing which still gave it a considerable edge over the rest of the industry because it could borrow money at a much lower rate Fannie Mae could buy up large numbers of mortgages on foreclosed homes and properties as well as other mortgages from commercial lenders and provide them at much lower prices also the US government's guaranteed backing of Fannie Mae debt prompted investors to confidently buy the company stock in 1970 the Federal Home Loan Mortgage Corporation or Freddie Mac was created to provide competition to Fannie Mae it was also established as a GSE with the benefits of government guaranteed backing along with its ability to borrow at low interest rates and along the Fannie Mae Freddie Mac was able to supply low-interest loans to mortgage lenders thus providing more available and affordable housing from 1970 onward Fannie Mae and Freddie Mac dominated the secondary housing market and together provided tens of millions of affordable homes to Americans by 2008 at the beginning of the housing market collapse of foreclosure crisis the two power houses together owned or guaranteed roughly half of the United States 12 trillion dollar mortgage market due to the 2007-2008 collapse of the housing market the US Treasury Department placed Fannie Mae and Freddie Mac into conservatorship under the FIFA or Federal Housing Finance Agency in September 2008 in order to guarantee their combined losses of fourteen point nine billion dollars and to steady shaky market concerns because of their new governmental conservatorship...
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