The Federal National Mortgage Association (Fannie Mae) is a government initiative aimed at securing mortgages through the use of mortgage backed securities. The Federal Home Loan Mortgage Corporation (Freddie Mac) is another government program which purchases mortgages on the secondary market and sells them as a mortgage backed securities. These agencies are what borrowers call conventional, or the agencies which provide conventional financing. Since the federal takeover of both organizations in 2008 thanks to the sub-prime mortgage crisis, both Fannie Mae and Freddie Mac have been working towards lowering costs for borrows while the housing market recovers. Most of the mortgages in the United States are currently backed by Fannie Mae or Freddie Mac.
Ace Mortgage Loan Corporation can help you obtain a loan through Fannie Mae and Freddie Mac. Call the mortgage loan professionals at Ace Mortgage Loan Corporation today for more information.
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Ace Mortgage Loan Corporation provides quality mortgage services to the people of Broward and Palm Beach Counties. Call us today at (954) 777-4774 to get started!