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Federal National Mortgage Association and Federal Loan Mortgage Association

In: Banks, Bankers, and Bankruptcies under Crisis

Author

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  • Dimitris N. Chorafas

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.

Suggested Citation

  • Dimitris N. Chorafas, 2014. "Federal National Mortgage Association and Federal Loan Mortgage Association," Palgrave Macmillan Books, in: Banks, Bankers, and Bankruptcies under Crisis, chapter 7, pages 127-150, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-43699-3_7
    DOI: 10.1057/9781137436993_7
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