events
The United States government takes control of the two largest mortgage financing companies in the US, Fannie Mae and Freddie Mac.
Related Wikipedia articles
Federal takeover of Fannie Mae and Freddie Mac
Action by the U.S. Treasury to lessen the subprime mortgage crisis
In September 2008, the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Both government-sponsored enterprises, which finance home mortgages in the United States by…Source: Wikipedia (CC BY-SA)
Fannie Mae
Government-backed financial services company
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is…Source: Wikipedia (CC BY-SA)
Freddie Mac
American government-sponsored enterprise
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US.…Source: Wikipedia (CC BY-SA)