What Is the Federal National Mortgage Association?
In 1938, the United States Government established the "Fannie Mae" under the National Housing Act.
Federal National Mortgage Association
Right!
- Chinese name
- Federal National Mortgage Association
- Foreign name
- Housing and Urban Development Act
- Time
- 1968
- Country
- United States
- In 1938, the United States Government established the "Fannie Mae" under the National Housing Act.
- In 1968, the United States split the Federal National Mortgage Association into two agencies under the Housing and Urban Development Act, a private company that continues to use the name of the Federal National Mortgage Association, which is now the Federal National Mortgage association.
- The agency's main task is to open up a secondary market for home mortgages, mainly buying mortgages guaranteed by the Federal Housing Administration and the Veterans Administration. Fannie Mac's role in the mortgage market is similar to that of a central bank, which provides financial support to financial institutions by buying and selling mortgage loans from financial institutions. The purpose of the association is to improve the loan insurance mechanism of the Federal Housing Administration, the Veterans Administration, and the Residential Housing Service, to provide housing services for low- and middle-income residents, and to improve the liquidity of the secondary mortgage market .