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The Federal National Mortgage Association (FNM), nicknamed Fannie Mae, was a depression-era institution created to make homeownership affordable for the working-class. Freddie Mac (FRE) was created in 1970 to provide liquidity, stability and affordability to the housing market.
Today, Fannie and Freddie guarantee or own over half of U.S. mortgages valued at $5 trillion. But with the...
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