Fannie Mae Final Paper

Fannie Mae
Soloabomi Arrington/Michael Mattar/Layne Miley
COM/350
November 14, 2011
Tiffany D. Seward
University of Phoenix

Fannie Mae is a government sponsored organization that was chartered by the intercourse of the United States of America to keep the American dream of legal residence will power alive. In 1938 the Congress enacted the Federal National Mortgage Association betroth Act whose role was to support liquidity, stability and affordability in the tributary mortgage market (Fannie Mae, 2011). Their role was never intended to be bring originators or to lend money in the primary feather mortgage market.
The organization was charged with keeping the market funded by ensuring that lenders had the needed resources, to build up and strengthen the housing intentness and mortgage markets and by so doing make home ownership affordable. It is often time misconstrued that Fannie Mae makes loans to homeowners because of the frequent mention of their name in loan documents but the truth is that while they do not make the loans they make the funds available to the lender for that loan to be made. They are a national mortgage finance company who supports the mortgage lenders which might take the form of topical anesthetic and national banks, thrifts, credit unions and other financial institutions across the nation.



They perpetually replenish the funds of the financial institutions so that potential home owners will have money available to borrow.
The United States is becalm showing to recover from the financial meltdown that started around mid(prenominal) 2007 which affected many sectors of the thriftiness. No sector was spared as the economy spiraled downwards including manufacturing, durable goods, automobiles, and housing which saw their values weakened anywhere from 20-50% depending on geographic location and the local economy. while many of the affected sectors sought alternatives to remain viable and try to ride out the recession Fannie Mae was faced with a precise critical mission. Their mission was to step...If you want to get a complete essay, order it on our website: Orderessay



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