• Check out the Fannie mae Loan Look equipment or the Freddie Mac computer Financing Browse-Right up unit on their respective websites.
• Enter your own personal pointers, just like your term, address in addition to past four digits of Public Safety amount to verify their name.
• Proceed with the advice to find out if your own financial was owned otherwise supported by Federal national mortgage association or Freddie Mac computer.

If the financial are had otherwise supported by Fannie mae or Freddie Mac, your s, for example loan improvement otherwise refinancing alternatives, so it’s important to learn which entity keeps their mortgage.

Whenever you are Federal national mortgage association and Freddie Mac computer have similar business designs and you may are employed in a similar world, there are lots of key differences when considering the 2 agencies:

step 1. Record and you may Purpose

Fannie mae and you will Freddie Mac provides similar records and you will objectives, because both was indeed established by Congress given that GSEs to add exchangeability and you can balances towards the U.S. housing industry. Yet not, you will find some variations in their records and you can missions.

Federal national mortgage association is actually established in 1938 included in President Franklin D. Roosevelt’s The brand new Offer to help create more affordable construction choices for Us americans. The business is actually to begin with a part of the federal government however, try after privatized into the 1968.

Freddie Mac computer, while doing so, are created in 1970 to include battle in order to Fannie mae and you may raise exchangeability from the financial industry. Freddie Mac’s goal is similar to Fannie Mae’s for the reason that they buys mortgage loans of various other loan providers and you will securitizes them for the MBS, but it also concentrates on help less banking institutions and you may thrifts you to definitely e tips given that huge lenders.

An alternate difference in Fannie mae and you can Freddie Mac computer is their control framework. Federal national mortgage association is actually privatized in the 1968 that’s belonging to investors, if you are Freddie Mac computer continues to be belonging to the federal government.

dos. Share of the market

Fannie mae and you may Freddie Mac have typically got comparable industry offers regarding the You.S why not look here. casing loans program. not, there have been particular variations in the market offers over time.

About many years leading up to this new financial crisis of 2008, Fannie mae and you can Freddie Mac kept a dominating updates throughout the You.S. mortgage field. Although not, following overall economy, government entities took more each other enterprises and you will followed change on the businesses to attenuate the exposure in order to taxpayers. Because of this, the business provides once the refuted.

Federal national mortgage association and Freddie Mac computer still gamble a significant part from inside the the new U.S. housing marketplace, but their market share have reduced. It is owed to some extent towards growth of non-bank loan providers or other individual business organizations which have entered the brand new mortgage market in recent times.

When you find yourself Fannie mae and you will Freddie Mac possess equivalent market shares, there are a few differences in the types of finance they pick and you will securitize.

step 3. Mortgage Products

Federal national mortgage association and you may Freddie Mac computer one another purchase and you will securitize differing kinds of mortgages, but there are variations in the sorts of finance it run.

Fannie Mae’s emphasis is on conventional, conforming financing. Speaking of finance that meet Fannie Mae’s underwriting and you can qualification criteria and you can adhere to loan restrictions lay from the FHFA. Fannie Mae’s loan limits differ by the geographic location and are adjusted per year in order to mirror alterations in housing costs. Federal national mortgage association and additionally sales fund that are insured by the FHA otherwise guaranteed by Service from Pros Items (VA).

Freddie Mac computer plus purchases traditional, conforming financing, nevertheless have a healthier focus on multifamily loans. Multifamily loans was fund that are accustomed fund characteristics having five or even more systems, for example apartment property. Freddie Mac computer ‘s the best source of financing having multifamily qualities from the You.S. and has now specific mortgage things tailored toward demands away from multifamily individuals. Freddie Mac computer along with purchases fund that will be insured because of the FHA or protected because of the Va.