Federal National Mortgage Association and Federal Loan Mortgage Association

Dimitris N. Chorafas

Chapter 7 in Banks, Bankers, and Bankruptcies under Crisis, 2014, pp 127-150 from Palgrave Macmillan

Abstract: Abstract Some people think that the Federal National Mortgage Association (FNMA, Fannie Mae) and Federal Loan Mortgage Association (FHMA, Freddie Mac)1 now belong to history and therefore their case should be kept in the time closet. That’s not true. First because their massive failure has taught many lessons on the unwanted consequences of runaway finance that will be lost if they just fade from the public eye. Second, because some Western governments, the British being one of them, contemplate resurrecting their defunct model through organizations aimed at recycling mortgages and (at least theoretically) promoting real estate sales.

Keywords: Hedge Fund; Loan Mortgage; Mortgage Market; Mortgage Lender; Prefer Stock (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-43699-3_7

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DOI: 10.1057/9781137436993_7

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