In the early 20th century, homeownership was out of reach for many people in the United States. The Biden administration extended the deadline for the moratorium on foreclosures and evictions during the pandemic.Fannie Mae and Freddie Mac issued a moratorium on foreclosures and evictions that was to run through March 31, 2021, because of the COVID-19 pandemic. Lenders use the money from selling mortgages to Fannie Mae and Freddie Mac to originate more loans, which helps individuals, families, and investors access a stable supply of mortgage money.Neither organization originates or services loans but buys mortgages from lenders to hold or repackage as mortgage-backed securities that can be sold.government in 1938 to help boost the mortgage market while Congress chartered Freddie Mac in 1970 as a private company. Fannie Mae was first chartered by the U.S.
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