The Forgotten GSE: Fannie Mae Backs 1 out of Every 4 U.S. Residential Mortgages. Default Rates Have Tripled Since Last Year.
The two enormous government sponsored entities Fannie Mae and Freddie Mac have garnered little attention since their government take over late in 2008. Fannie Mae was placed into conservatorship on September 6, 2008 when it was brought under the Federal Housing Finance Agency (FHFA). But the losses keep mounting. In the second quarter Fannie Mae [...]