Replies to post #217790 on Fannie Mae-No Politics (FNMA)

[Patswil]

As the mortgage crisis gained momentum in 2007, the federal government >>>>>directed<<<<<Fannie Mae and Freddie Mac to purchase subprime and other risky securities to bolster the economy and stabilize the industry. Unsurprisingly, this caused Fannie and Freddie to be hit particularly hard by the financial crisis of 2008. Even though the companies never became insolvent, Congress passed the Housing and Economic Recovery Act of 2008 (HERA) to take control over Fannie and Freddie, placing the companies under the FHFA.