Fannie mae and freddie mac fannie mae and freddie mac were created by congress they perform an important role in the nations housing finance system to provide liquidity stability and affordability to the mortgage market. Fannie and freddie remain two of the worlds largest financial institutions but most americans understand very little about the two mortgage giants. One thing was clear fannie mae and freddie mac were given a government sponsored monopoly on a large part of the us secondary mortgage market. For decades the mortgage giants fannie mae and freddie mac were the fat and happy foundation of the us housing market by buying and packaging home loans into bonds and absorbing much of their
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