In the 1960s, Fannie Mae became a privately owned corporation under government sponsorship. Fannie Mae led the way to ensuring there would be money available for people to acquire long-term, fixed-rate home loans. Before then, homeownership was difficult to achieve, and the Great Depression led to many people losing their homes and banks not having enough money to lend for mortgages. ![]() Fannie Mae was created by an act of congress in 1938 to make buying a home achievable for more Americans.
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