Replies to post #28089 on Fannie Mae-No Politics (FNMA)

[obiterdictum]

The GSEs are quasi-public, federally chartered corporations with publicly traded stock and a government mandate to provide a specific public service.

In one aspect they are public corporations with shareholders owning publicly traded company stock and in another aspect they sponsored by the US government to perform a public purpose, making them quasi-public versus being wholly private or wholly public.

The GSEs are not private state corporations as usually defined in corporate law and they are not a government agency.

Examples:
1. Ginnie Mae - a wholly owned government corporation

2. Sallie Mae, once a quasi-public corporation (GSE) and now a public corporation with publicly traded stock. Took a decade to end Sallie Mae's status as a quasi-public corporation or GSE and to become a private sector corporation.

Here is the story of how that happened: http://www.treasury.gov/about/organizational-structure/offices/Documents/SallieMaePrivatizationReport.pdf.

3. Fannie Mae and Freddie Mac - quasi-public corporations, government sponsored enterprises with publicly traded stock.