One of the big stories in the news recently has been about the government "bailing out" Fannie Mae and Feddie Mac. There have been a lot of questions, a lot of folks thought they were government owned ...actually they are quasi-governmental agencies. They are privately organized and privately owned corporations that issue their own common stock and provide a secondary market for mortgage loans. Fannie deals in conventional, FHA and VA loans. Freddie deals primarily in conventional loans.
Answer this trivia question in the comment section below and you have a chance to win tickets to An Evening of Bleep Free Comedy with Ken Davis at Zanies in Nashville, TN on Sept. 23,2008:
What were the original names for Fannie Mae and Freddie Mac. They also have a cousin, Ginnie Mae, what is her original name?
There will be a trivia question in the each of the next several posts until Sept. 18. The person with the most correct answers will win!
For more on what does the governmental take over mean, click here.
Today is Watercooler Wednesday at Ethos, go here for great guilty pleasure YOUTUBE videos.
Fun post Chris, I'll be looking forward to the answers, as I have no idea!
Posted by: Audra Krell | September 10, 2008 at 03:57 PM
Fannie Mae
FNMA
Federal National Mortgage Association
Freddie Mac
FHLmc
Federal Home Loan Mortgage Corporation
Ginnie Mae
GNMA
Government National Mortgage Association
Bonus....
Sallie Mae
SLMA
Student Loan Marketing Association
Posted by: Bill Munn | September 12, 2008 at 10:17 PM