fannie mae: Fannie and Freddie
- 09/19/08 08:42 AM
September 9, 2008 By the time you read this, the crisis with Fannie and Freddie will be at least a few weeks old but, since we taxpayers are now the guarantors of last resort for a whole bunch of questionable loans, it is important to understand the situation. Fannie Mae and Freddie Mac are two quasi-governmental agencies that buy real estate loans that meet certain criteria, on what is known as the "secondary market". Your lender makes you a loan to buy a house and immediately gets the money back courtesy of Fannie or Freddie, who buys it and sells it off to … (0 comments)
September 9, 2008
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