The FNMA Promotes Home Ownership
At a glance:
- Series: Great Events from History II: Business and Commerce Series
- Categories: Government and Politics, Economics
- Subcategories: Business, Organizations, Agencies, Institutions, Banks, Banking, Finance, Depressions, Recessions
- Curriculum: American History 1901-1950
- Geographical Location: Washington, D.C.
- Date: February 10, 1938
Article abstract: Establishment of the Federal National Mortgage Association facilitated the move out of the Great Depression and assisted families in achieving home ownership.
Summary of Event
The Federal National Mortgage Association (FNMA), organized on February 10, 1938, was started to create and maintain an active market for insured mortgages and a steady flow of mortgage money at relatively favorable interest rates. It provided an avenue of investment for individuals and institutions previously unable to benefit directly from insured mortgage...
[The entire page is 2304 words long]
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