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Federal takeover of Fannie Mae and Freddie Mac

Action by the U.S. Treasury to lessen the subprime mortgage crisis

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Federal takeover of Fannie Mae and Freddie Mac: Action by the U.S. Treasury to lessen the subprime mortgage crisis
In September 2008 the Federal Housing Finance Agency (FHFA) announced that it would take over the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. Both government-sponsored enterprises, which finance home mortgages in the United States by issuing bonds, had become illiquid as the market for those bonds collapsed in the subprime mortgage crisis. The FHFA established conservatorships in which each enterprise's management works under the FHFA's direction to reduce losses and to develop a new operating structure that will allow a return to self-management.

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