Gerald P. O ' Driscoll, former vice president at the Federal Reserve Bank of Dallas, stated that Fannie Mae and Freddie Mac became examples of crony capitalism.

Fannie Mae Clackum was the first service member to successfully appeal such a discharge, winning eight years of back pay from the US Court of Claims in 1960.

* 1965: " Bring Your Love to Me " — # 83 U. S. / " Fannie Mae " — # 117 U. S.

* 2008 – The US Government takes control of the two largest mortgage financing companies in the US, Fannie Mae and Freddie Mac.

When referring to government control of private corporations such as Freddie Mac or Fannie Mae, conservatorship implies a more temporary control than does nationalization.

Following the subprime mortgage crisis, FHA, along with Fannie Mae and Freddie Mac, became the source of much of the United States mortgage financing.

* October 1992 – The Housing and Community Development Act of 1992 codifies within its language the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 that creates the Office of Federal Housing Enterprise Oversight, and mandates HUD to set goals for lower income and underserved housing areas for the GSEs Fannie Mae and Freddie Mac

* Housing: This office is responsible for the Federal Housing Administration ; mission regulation of Fannie Mae and Freddie Mac ; regulation of Manufactured housing ; administration of Multifamily housing programs, including Supportive Housing for the Elderly ( Section 202 ) and Supportive Housing for Persons with Disabilities ( Section 811 ); and Healthcare facility loan insurance.

The bank was contracted by the United States Treasury in August 2008 to advise the government on potential rescue strategies for Fannie Mae and Freddie Mac.

* Nancy Jardini ’ 85, Chief Compliance Officer, Fannie Mae

This occurs in the United States, for example, in certain airline industry loans, in most student loans, in small business administration loans, in Ginnie Mae mortgage-backed bonds, and is alleged to occur in the mortgage-backed bonds issued through Fannie Mae and Freddie Mac.

In the United States, government-sponsored enterprises ( GSEs ) i. e. The Federal National Mortgage Association ( FNMA ; OTCQB: FNMA ), commonly known as Fannie Mae is one such example.

Now Mliss Abnethe, a psychotic human female with immense power and wealth, has bound a Caleban ( called Fannie Mae ) in a contract that allows the Caleban to be whipped to death ; when the Caleban dies, everyone who has ever used a jumpdoor ( which is almost every adult in the sentient world and many of the young ) will die as well.

As all Calebans are connected, if all were to remain in our existence, when Fannie Mae died, all Calebans would die.

McKie has to find Mliss and stop her before Fannie Mae reaches, in her words, " ultimate discontinuity ", but he is constrained by the law protecting private individuals by restricting the ministrations of BuSab to public entities.

McKie succeeds in saving Fannie Mae by opening a jumpdoor into space which shunts a large interstellar cloud of ( presumably ) hydrogen into her stellar body, rejuvenating her from her torture at the hands of the Palenki henchmen hired by Mliss Abnethe.

While meditating in a park in BuSab headquarters McKie is mentally contacted by the Caleban Fannie Mae, a female member of a species of unparalleled power from another dimension whose visible manifestation in this universe is the star Thyone in the Pleiades cluster

Despite his feelings of genuine love for the Caleban Fannie Mae ( a love which is fully returned ), McKie finds it difficult to form long-term attachments to human women ; he has been married on no fewer than fifty occasions by the time of the Dosadi affair.

Sununu called for a tougher federal regulator for government sponsored enterprises Fannie Mae and Freddie Mac, and with Senator Tim Johnson ( D-SD ), he filed a dramatic overhaul of regulation of the insurance industry.

" Agency Securitizations " refer to securitizations by either Ginnie Mae, a government agency, or by Fannie Mae and Freddie Mac, for-profit government sponsored enterprises (" GSEs ").

SEC Commissioner Kathleen Casey has said that these CRAs have acted much like Fannie Mae, Freddie Mac and other companies that dominate the market because of government actions.

Together, the three mortgage finance GSEs ( Fannie Mae, Freddie Mac and the 12 Federal Home Loan Banks ) have several trillion dollars of on-balance sheet assets.

* Fannie Mae

Government backing let Fannie and Freddie dominate mortgage underwriting.

Today, Ginnie Mae securities are the only mortgage-backed securities that are backed by the full faith and credit guaranty of the United States government, although some have argued that Fannie Mae and Freddie Mac securities are de facto beneficiaries of this guarantee after the US government rescued them from insolvency in 2008.

Fannie Mae and Freddie Mac, on the other hand, are " government-sponsored enterprises " ( GSEs ), which are federally chartered corporations, but still privately owned by shareholders.

For a comprehensive list of articles discussing Fannie Mae, see Fannie Mae and Freddie Mac: A Bibliography.

In 1970, the federal government authorized Fannie Mae to purchase private mortgages, i. e. those not insured by the FHA, VA, or FmHA, and created the Federal Home Loan Mortgage Corporation ( FHLMC ), colloquially known as Freddie Mac, to compete with Fannie Mae and thus facilitate a more robust and efficient secondary mortgage market.

The Act amended the charter of Fannie Mae and Freddie Mac to reflect Congress ' view that the GSEs "... have an affirmative obligation to facilitate the financing of affordable housing for low-and moderate-income families in a manner consistent with their overall public purposes, while maintaining a strong financial condition and a reasonable economic return ;" For the first time, the GSEs were required to meet " affordable housing goals " set annually by the Department of Housing and Urban Development ( HUD ) and approved by Congress.

In his 2006 book, America's Financial Apocalypse, Mike Stathis also warned about the risk of Fannie Mae helping to trigger the financial crisis: “ With close to $ 2 trillion in debt between Freddie Mac and Fannie Mae alone, as well as several trillion held by commercial banks, failure of just one GSE or related entity could create a huge disaster that would easily eclipse the Savings & Loan Crisis of the late 1980s.

Following their mission to meet federal Housing and Urban Development ( HUD ) housing goals, GSEs such as Fannie Mae, Freddie Mac and the Federal Home Loan Banks ( FHLBanks ) have striven to improve home ownership of low and middle income families, underserved areas, and generally through special affordable methods such as " the ability to obtain a 30-year fixed-rate mortgage with a low down payment ... and the continuous availability of mortgage credit under a wide range of economic conditions.

In July 2008, the government attempted to ease market fears by reiterating their view that " Fannie Mae and Freddie Mac play a central role in the US housing finance system ".

Despite these efforts, by August 2008, shares of both Fannie Mae and Freddie Mac had tumbled more than 90 % from their one-year prior levels.

On Oct 21, 2010 FHFA estimates revealed that the bailout of Freddie Mac and Fannie Mae will likely cost taxpayers $ 224 – 360 billion in total, with over $ 150 billion already provided.

Fannie Mae may also securitize mortgages from its own loan portfolio and sell the resultant mortgage-backed security to investors in the secondary mortgage market, again with a guarantee that the stated principal and interest payments will be timely passed through to the investor.

His second marriage was to Fannie Taylor Briggs in January 1912 ; he raised her five-year-old daughter from her previous marriage, Audrey, as his own daughter.

In 1992 the Archibald Candy Company acquired the brand ( and its 200 retail stores in the northeastern United States ) as a sister brand to its own Fannie May candies ( sold primarily in the Midwest and mid-Atlantic United States ).

Investors, or purchasers of Fannie Mae MBSs, are willing to let Fannie Mae keep this fee in exchange for assuming the credit risk ; that is, Fannie Mae's guarantee that the scheduled principal and interest on the underlying loan will be paid even if the borrower defaults.

Fannie Mae buys loans from approved mortgage sellers, either for cash or in exchange for a mortgage-backed security that comprises those loans and that, for a fee, carries Fannie Mae's guarantee of timely payment of interest and principal.

In order for Fannie Mae to provide its guarantee to mortgage-backed securities it issues, it sets the guidelines for the loans that it will accept for purchase, called " conforming " loans.

Fannie Mae and Freddie Mac have a limit on the maximum sized loan they will guarantee.

Originally, Fannie had an ' explicit guarantee ' from the government ; if it got in trouble, the government promised to bail it out.

Fannie Mae received no direct government funding or backing ; Fannie Mae securities carried no actual explicit government guarantee of being repaid.

However, the implied guarantee, as well as various special treatments given to Fannie by the government, greatly enhanced its success.

For example, the implied guarantee allowed Fannie Mae and Freddie Mac to save billions in borrowing costs, as their credit rating was very good.

They include: " In Florida ", about the 2000 election ; " Without DeLay ", a song about the former congressman ; " Bobbitt ", about John and Lorena Bobbitt ; " Little Bitty Gun ", which lampoons Nancy Reagan ; " I'm Changing My Name to Chrysler ", about the federal loan guarantee to Chrysler in 1979 ( which was rewritten in 2008 as " I Am Changing My Name to Fannie Mae " about the 700 billion dollar " bailout of the U. S. financial system "); " The Ballad of Spiro Agnew ", and " Lyndon Johnson Told the Nation " ( which became " George W. Told the Nation " in 2007 ).

In 2008, Paxton rewrote his song " I'm Changing My Name to Chrysler ", about the federal loan guarantee to Chrysler in 1979, as " I Am Changing My Name to Fannie Mae ", about the 700 billion dollar " bailout of the U. S. financial system ".

This implicit guarantee was tested by the subprime mortgage crisis, which caused the U. S. government to bail out and put into conservatorship Fannie Mae and Freddie Mac in September, 2008.