• Visit the Fannie mae Loan Research product and/or Freddie Mac computer Loan Browse-Up device on their respective websites.
• Get into your own pointers, such as your title, address and the last four digits of your Personal Defense amount to ensure your own label.
• Proceed with the information to see if the mortgage is owned or supported by Fannie mae otherwise Freddie Mac.

If the mortgage are owned otherwise supported by Federal national mortgage association or Freddie Mac, you s, eg loan changes otherwise refinancing possibilities, so it’s crucial that you understand and therefore organization keeps your own mortgage.

When you’re Fannie mae and Freddie Mac computer provides equivalent team habits and are employed in a comparable globe, there are key differences when considering both entities:

1. History and you will Purpose

Federal national mortgage association and Freddie Mac computer enjoys similar histories and you will missions, since the each other have been oriented of the Congress since GSEs to include exchangeability and you can stability to your U.S. housing industry. But not, there are some differences in their records and missions.

Federal national mortgage association try created in 1938 within Chairman Franklin D. Roosevelt’s The fresh new Bargain to assist create cheaper houses alternatives for People in america. The business try originally a part of the federal government but are later on privatized for the 1968.

Freddie Mac, while doing so, was established in 1970 to include battle in order to Fannie mae and you can raise liquidity in the home loan sector. Freddie Mac’s mission is a lot like Fannie Mae’s where it buys mortgages off other lenders and you may securitizes all of them on the MBS, but it addittionally centers on support less finance companies and you can thrifts that e tips because huge loan providers.

A new difference in Fannie mae and you can Freddie Mac computer is the control structure. Federal national mortgage association was privatized in the 1968 that is owned by shareholders, while you are Freddie Mac has been owned by government entities.

dos. Market share

Fannie mae and you will Freddie Mac has historically got equivalent business shares in the You.S. property finance system. not, there are particular differences in their markets offers through the years.

On ages leading up to the brand new financial crisis regarding 2008, Federal national mortgage association and you can Freddie Mac computer held a dominating reputation in the You.S. home loan business. not, pursuing the overall economy, the us government got more than each other people and you may adopted alter on the functions to attenuate its chance to help you taxpayers. Because of this, the share of the market has actually once the rejected.

Fannie mae and you may Freddie Mac nonetheless enjoy a life threatening character in the the brand new U.S. housing market, but their business has diminished. This is owed simply on the growth of non-bank lenders or any other private markets agencies having inserted the brand new financial business nowadays.

While you are Federal national mortgage association and you will Freddie Mac has similar industry shares, there are several differences in the types of loans Gaylordsville financing it purchase and you will securitize.

3. Home loan Sizes

Fannie mae and you may Freddie Mac computer both pick and you will securitize many types regarding mortgage loans, but you can find variations in the types of fund they focus on.

Fannie Mae’s main focus is on antique, conforming loans. These are finance you to definitely satisfy Fannie Mae’s underwriting and you can qualifications requirements and you will adhere to mortgage limitations set because of the FHFA. Fannie Mae’s financing limitations will vary from the geographical venue consequently they are adjusted per year to mirror alterations in property pricing. Fannie mae also commands finance which might be covered by FHA or guaranteed because of the Department regarding Experts Items (VA).

Freddie Mac along with sales antique, conforming funds, however it enjoys a stronger manage multifamily financing. Multifamily money is funds that are regularly money attributes with four or higher equipment, such as for instance flat buildings. Freddie Mac is the leading way to obtain funding getting multifamily features from the You.S. and has particular financing factors tailored into means regarding multifamily individuals. Freddie Mac computer plus requests funds which might be covered by FHA otherwise protected by the Va.