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...A world ablaze as fear took hold When the US Treasury and Federal Housing Finance Agency took over the Federal National Mortgage Association and Federal Home Loan Mortgage Corporation – the twin institutions...
...So too with the government takeover of Fannie Mae and Freddie Mac, the government sponsored housing entities. They have spent $10bn on repurchases since 2003, including $4bn in 2006-07....
...For more details see the US Department of Housing and Urban Development (HUD) website www.hud.gov The government is hoping that as many as 400,000 mortgages will be refinanced through this programme (though...
...In 1938, the Congress chartered the Federal National Mortgage Association, or Fannie Mae, as it came to be known....
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