Fra Noi Embrace Your Inner Italian
Most people think that the bank they make their mortgage payment to actually owns the mortgage, but in most cases, the bank that you make your payment to just services the mortgage and it is ultimately owned by one of the two mortgage giants. Fannie Mae and Freddie Mac where chartered back in the early ’70s, and later became public companies that were traded on the stock exchange. The purpose of Fannie Mae and Freddie Mac was to raise funds from investors to purchase mortgages from banks. Fannie and Freddie will sell bonds called “Mortgage Backed Securities,” or MBS, that …
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