Click on the button for
glossary of terms |
 |
 |
 |
| |
What is "Fannie Mae," "Ginnie Mae," and "Freddie Mac"? |
|
 |
|
 |
Fannie Mae is the Federal National Mortgage Association. Ginnie Mae is the Government National Mortgage Association. Freddie Mac is the Federal Home Loan Mortgage Corporation.
These are organizations that buy loans from lending institutions and are thus able to offer interest rates generally one-quarter to one-half of a percentage point lower for borrowers who qualify. They comprise what is called the secondary market for home mortgage. |
