How can i tell if my loan is backed by fannie mae or freddie mac


What changed after the US government took control of Fannie Mae and Freddie Mac?

By packaging mortgages into MBS and guaranteeing the timely payment of principal and interest on the underlying mortgages, Fannie Mae and Freddie Mac attract to the secondary mortgage market investors who might not otherwise invest in mortgages, thereby expanding the pool of funds available for housing.

That makes the secondary mortgage market more liquid and helps lower the interest rates paid by homeowners and other mortgage borrowers. Fannie Mae and Freddie Mac also can help stabilize mortgage markets and protect housing during extraordinary periods when stress or turmoil in the broader financial system threaten the economy.

Fannie Mae was first chartered by the U. Today it is a shareholder-owned company that operates under a congressional charter. Freddie Mac was chartered by Congress in as a private company to likewise help ensure a reliable and affordable supply of mortgage funds throughout the country. Today is a shareholder-owned company that operates under a congressional charter.

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Please turn on JavaScript and try again. Fannie Mae Web Site Fannie Mae Charter Act Freddie Mac was chartered by Congress in as a private company to likewise help ensure a reliable and affordable supply of mortgage funds throughout the country.


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Twitter Youtube LinkedIn Facebook. Contact Us Mobile. Want to Subscribe? In other words, if the housing recovery stays on track, Fannie and Freddie will have repaid the bailout within a few years and will keep generating a reliable stream of cash for the federal government.

How Do I Know If My Mortgage Is Securitized by Freddie or Fannie?

First of all, everyone wants to avoid a repeat of the Fannie-Freddie bailout. Some—including Obama—argue that the risk of that happening remains as long as they can generate profits, writing new loans, with taxpayers on the hook for losses. Though they're profitable, Fannie and Freddie still cost the government billions more in what amounts to a subsidy for covering the risk of future defaults.

It's not unlike letting an insurer collect premiums on a policy that it then hands over to the government when the policyholder files a claim for losses. Read more: Higher mortgage rates may mean easier credit.

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The goal of all of these plans is to move more from the government to private lenders. But very few private lenders are willing to finance home mortgages under current rules. The only way to get them back into the market is to offer them great financial incentives—which will result in higher costs for borrowers. That's going to make it difficult to pull off one of the other major goals of Fannie and Freddie reform: Keeping mortgages widely available and affordable, especially for first-time buyers. Housing advocates argue that these proposal don't go far enough in making sure that homeownership—which has declined to a year low—doesn't fall further.


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  • What Are Fannie Mae and Freddie Mac?.
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All these proposals still face a major hurdle. Until there's much stronger evidence that private mortgage financing is coming back, any effort to wind down Fannie and Freddie would throw a large bucket of cold water on a housing recovery that has only recently begun to gain momentum.

What are Fannie Mae and Freddie Mac?

And no member of Congress—let alone the president—wants to run the risk of having his or her name on a law that slows or reverses that recovery. Follow him on Twitter at johnwschoen. Sign up for free newsletters and get more CNBC delivered to your inbox. Get this delivered to your inbox, and more info about our products and services. Privacy Policy.

HARP Refinance Home Loan Program with Fannie Mae or Freddie Mac

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How Do I Know If My Mortgage Is Securitized by Freddie or Fannie?

What you need to know if Fannie and Freddie go away. John W. Schoen johnwschoen. So why not just keep them going? Read more: Higher mortgage rates may mean easier credit What are Congress and the White House proposing to do about it? The devil is in the details, which are still far from finalized. Schoen CNBC. Related Securities Symbol. Download the latest Flash player and try again. Share this video Watch Next News Tips Got a confidential news tip?

how can i tell if my loan is backed by fannie mae or freddie mac How can i tell if my loan is backed by fannie mae or freddie mac
how can i tell if my loan is backed by fannie mae or freddie mac How can i tell if my loan is backed by fannie mae or freddie mac
how can i tell if my loan is backed by fannie mae or freddie mac How can i tell if my loan is backed by fannie mae or freddie mac
how can i tell if my loan is backed by fannie mae or freddie mac How can i tell if my loan is backed by fannie mae or freddie mac
how can i tell if my loan is backed by fannie mae or freddie mac How can i tell if my loan is backed by fannie mae or freddie mac

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