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Fannie Mae and How it Works




Looking to get your first home? Some people may be thinking that this is not the time to buy, as everyone is talking about a "bad economy." However, if you think about it logically for a minute, this can be the perfect time to get the home of your dreams, and Federal National Mortgage Association (FNMA), better known as Fannie Mae is one program that can help you get the financing you need. Thus, it is a housing program which has helped many people purchase their first home.


What is Fannie Mae? Fannie Mae is government-sponsored entities (GSEs) that act as links between banks and lenders, the federal government, and private investors that were initially a federal user established in 1938. In 1968, however, Congress passed legislation enabling the user to become a private enterprise. Hence, the mission of the program is to provide easy access to funds, or “liquidity,” to thousands of banks, savings and loans entities, and other mortgage companies that lend to home buyers. Thus, Fannie Mae does this by purchasing most of the home loans in the United States. They then hold them as their own investments or package them into mortgage-backed securities that are sold to investors on what is known as the secondary mortgage market.


Fannie Mae, fall under the oversight of the U.S. Housing and Urban Development (HUD) department. Fannie Mae free up funding for primary lenders to make more home loans. In concert, this program makes housing more affordable to those who may not necessarily qualify for prime loans. The overall mission is to assist single families, support and provide assistance to housing and neighborhood development, and generate capital in the open stock market. Their missions include making homeownership and rental housing more accessible and affordable. However, they don't directly provide loans to borrowers. Instead, they buy mortgages from primary lending institutions that meet their lending standards.


Who Does Fannie Mae Appeal To?


Fannie Mae, fall under the oversight of the U.S. Housing and Urban Development (HUD) department. Fannie Mae free up funding for primary lenders to make more home loans. In concert, this program makes housing more affordable to those who may not necessarily qualify for prime loans. The overall mission is to assist single families, support and provide assistance to housing and neighborhood development, and generate capital in the open stock market. Their missions include making home ownership and rental housing more accessible and affordable. However, they don't directly provide loans to borrowers. Instead, they buy mortgages from primary lending institutions that meet their lending standards.

How Does All This Work?


If you're interested in buying a home or even looking for an affordable rental, all you have to do go to the Fannie Mae website and look for the link that takes you into a section about finding a lender that is affiliated to Fannie Mae for renters or something about renting or home buying. Follow the instructions to find a qualified lender. Thus you don’t need to lose your home to foreclosure or loan default. Do not think that you have no options due to financial hardships or other problems. Do contact Fannie Mae today to see what new home loan modification options exist for you. As people need to realize that help is available. Get out there and see how you can improve your financial situation by getting a mortgage modification from the trusted lenders at Fannie Mae.

100 S. Biscayne Blvd. Suite 300, Miami, FL 33131 

info@wincapitalusa.com

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