Two organizations share the highest percentage of the debt as far as the mortgages out here in United States are concerned. These companies are monitoring around 40% of the debt out here in United States. The change can be immense if there is even a slight change in the working of these organizations and this will definitely affect the economy of the whole world. As far as one more organization is concerned, one will definitely find that Genie Mae also plays an important role in the economy of the whole world. Fannie Mae has definitely been one of the very important governing bodies in United States and it affects the economy of the country significantly. We all remember how Fannie Mae was playing crucial role during the economic crisis and it was definitely responsible for bringing the country out of the great depression due to the economic crisis.
This organization was established back in 1934 but ever since then it is definitely ruling the economics of the country. It is important to know that mortgages during the depression remained unpaid but the involvement of this organization has definitely changed the whole scenery. The head quarter of this organization is in Washington DC, the whole working is being managed from the head quarter, and the turnover is in trillions.
There is no doubt at all that the process of the organization working needs some explanation. It is important to know that it is a government sponsored enterprise and is meant for the betterment of the low income and the middle class Americans so that they are able to buy the houses at ease. Through first time home buyer loans, fannie mae bailout, proper fannie mae guidelines as well as home loans for first time buyers, it has changed the total complexion of the society. There is no doubt at all that all the money related to the mortgages definitely need the surplus low and hence this was done through this organization and it lead to the formation of the secondary mortgage market.
This company works under the congressional charter of the country and great amount of liquidity to the mortgage money and it has been the reason for the suppression of the economic crisis as far as the United States is concerned. The total turnover of the organization has already been discussed and there is no doubt at all that it needs more discussion definitely. As far as the profit of the organization is concerned, the company buys the small mortgages from the lender and then it keeps a small percentage of the interest, which the mortgage holder pays to the lenders.
There is no doubt at all that the interest amount is very heavy and even if this small percentage of the interest will be calculated then it will definitely come out to be in trillions, which is definitely a very huge amount. As far as the percentage is, concerned one will definitely find that it is around 0.02 to 0.04 percent and this can definitely lead to a very heavy amount, which makes this organization one of the richest organizations in the whole world. Because of many reason being discussed out here, It has been found that Fannie Mae is one of the leading organizations and it has made the dream come true for many middle class people as well as the low-income people.
To be able to to completely recognize additional elements of buying a house, feel free to check these resources:
FHA Loans Appearing In Detail
All The Recommendation Needed To First Time Home Buyers
Points Of First Time Home Buyer Grants
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