SIR - Imagine Hitler had won the Battle of Britain in 1940, and we were under the Nazi jackboot. Hitler was real; Nazism was real; the Gestapo was real; Auschwitz was real; Belsen was real; the jackboot was real; the V1 and the V2 rocket were real - and it was all just 18 miles from our shores.
Fannie Mae held a veritable monopoly over the secondary mortgage market. In 1968...In order to prevent any further monopolization of the market, a second GSE known as Freddie Mac was created in 1970. Currently, Fannie Mae and Freddie Mac control about 90 percent of the nation's secondary mortgage market. .
The Federal Home Loan Mortgage Corporation (FHLMC), known as Freddie Mac, is a public government-sponsored enterprise (GSE), headquartered in the Tyson's Corner CDP in unincorporated Fairfax County, Virginia. The FHLMC was created in 1970 to expand the secondary market for mortgages in the US. Along with Fannie Mae, Freddie Mac buys mortgages on the secondary market, pools them, and sells them as a mortgage-backed security to investors on the open market. This secondary mortgage market increases the supply of money available for mortgage lending and increases the money available for new home purchases.