Wednesday, 24 April 2019

reggie mac dawson has absconded with my funds

On this day in 1969, the US government issued its first mortgage-backed security through an organisation incorporated the year prior, the Government National Mortgage Association—colloquially known as Ginne Mae, a wholly-owned charter within the Department of Housing and Urban Development (HUD) to promote home-ownership.
An earlier and enduring iteration was creations of the crisis of Great Depression, the Federal National Mortgage Association (Fannie Mae) and in 1970 the Federal Home Loan Mortgage Corporation (Freddie Mac) and infamously Sallie Mae (the Student Loan Marketing Association) do not have the full-faith and backing of the federal government, guaranteeing solvency, only Ginnie Mae (with a real estate portfolio upwards of two trillion dollars presently), yet are de facto beneficiaries, whose purpose is to create secondary bond markets and have occasioned a few crises of their own. Jimmy Mack, when are you coming back?