Fannie Mae and Freddie Mac are grantors of 50 percent of mortgages that are active here in the United States. If you think about number wise there is roughly about $10 trillion of dollars in mortgages out there. Fannie Mae and Freddie Mac are about $5.5 trillion dollars’ worth of mortgages that they grantee. When the crash happen in 2008 they encounter difficulties and our federal government had to take over and back stop them, they provided money to them to keep them going. But effectively they created it for us citizens to have a stable continuous mortgage market. With the bailout that happen with the mortgage industry Fannie and Freddie got $190 billion of dollars over the crash time. Stay tune to hear more!
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