With the recent news of Freddie Mac and Fannie Mae being delisted from the NYSE and relegated to the OTC market, I thought it would be interesting to take a look at the four entities that share similar names. Freddie Mac, Fannie Mae, Ginnie Mae, and Sallie Mae sound very similar and while each started as a government sponsored entity (GSE), they’ve taken very different and distinct paths since their creations.
They’re often mistaken for each other and before I researched this, I didn’t know the difference between Freddie Mac and Fannie Mae (does it matter? they both seem f’d). I also didn’t know what Ginnie Mae did, other than being the only one that was explicitly backed by the US government (until recently, Freddie and Fannie were implicitly backed by the USG), and only that Sallie Mae dealt with student loans.
Let’s see what these guys do!
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