• Go to the Fannie mae Mortgage Lookup product or the Freddie Mac Financing Look-Upwards unit on the particular websites.
• Go into your own personal pointers, like your identity, address together with last five digits of one’s Personal Coverage count to verify your label.
• Proceed with the guidelines to find out if their mortgage was possessed otherwise supported by Fannie mae otherwise Freddie Mac.

When your home loan try owned otherwise backed by Fannie mae otherwise Freddie Mac computer, you s, such financing variations otherwise refinancing options, so it is vital that you know and that organization keeps your home loan.

If you find yourself Federal national mortgage association and you can Freddie Mac has actually similar business designs and you will operate in a comparable world, there are trick differences when considering the 2 organizations:

step 1. Record and you may Objective

Federal national mortgage association and you can Freddie Mac have equivalent records and you can objectives, since the both was basically centered of the Congress just like the GSEs to include exchangeability and you can balance towards the You.S. housing market. not, there are some variations in the histories and you will objectives.

Fannie mae try created in 1938 as an element of Chairman Franklin D. Roosevelt’s The newest Price to simply help carry out cheaper housing alternatives for People in america. The organization was to start with an integral part of the federal government but was later on privatized inside the 1968.

Freddie Mac, at the same time, are established in 1970 to include battle so you can Federal national mortgage association and you will improve liquidity in the home loan markets. Freddie Mac’s mission is similar to Fannie Mae’s in this they shopping mortgage loans out-of other lenders and you can securitizes them to your MBS, but inaddition it focuses on help smaller financial institutions and you may thrifts one to age resources due to the fact big lenders.

An alternate difference between Federal national mortgage association and you can Freddie Mac computer is the possession structure. Fannie mae is privatized from inside the 1968 and that is owned by investors, if you’re Freddie Mac computer continues to be belonging to the us government.

2. Business

Fannie mae and you can Freddie Mac possess over the years got equivalent sector offers about You.S. houses fund program. But not, there were some differences in their market shares over the years.

Throughout the many years prior to the brand new overall economy off 2008, Federal national mortgage association and you may Freddie Mac held a dominating standing throughout the You.S. home loan field. Although not, pursuing the overall economy, government entities got over each other enterprises and you may then followed changes to their functions to attenuate its chance to help you taxpayers. This is why, its business has because the refuted.

Fannie mae and you can Freddie Mac computer however enjoy a serious character within the the fresh new You.S. housing market, but their business have diminished. It is due to some extent towards the development of low-financial loan providers or other individual market entities which have registered the fresh home loan market in recent years.

If you’re Federal national mortgage association and you can Freddie Mac computer possess similar field shares, you will find some differences in the types of fund they purchase and securitize.

step three. Home loan Sizes

Federal national mortgage association and you can Freddie Mac computer both buy and you can securitize various types out-of mortgages, however, there are many differences in the types of finance they work at.

Fannie Mae’s emphasis is on conventional, conforming loans. Talking about financing one to meet Fannie Mae’s underwriting and you may qualifications conditions and conform to loan limits place by FHFA. Fannie Mae’s financing limitations are very different of the geographical venue and are modified a year to help you mirror changes in property pricing. Fannie mae together with requests financing which can be covered by FHA or protected because of the Agencies of Experts Situations (VA).

Freddie Mac together with orders traditional, conforming fund, however it have a healthier work on multifamily money. Multifamily loans was fund that are regularly money attributes which have four or even more products, including apartment buildings. Freddie Mac computer ‘s the best supply of financing getting multifamily services regarding U.S. and also particular mortgage points customized towards the means out of multifamily individuals. Freddie Mac computer and additionally instructions funds which can be covered of the FHA otherwise secured because of the Virtual assistant.