Simply stated, they are agencies originally begun through acts of government and over time have evolved into huge private corporations. They still, however, have powerful lobby interests in Washington and carry considerable clout in many political arenas. The interesting thing is, unlike a private lender, even though the two groups have racked up over 2 trillion dollars in debt, which continues to grow, they are not required to keep a reserve against potential losses... displayed 300 characters
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They have worked to help create a market for these mortgage-backed securities from investors, which give the potential homeowner slightly lower interest rates and easier credit terms.
That in itself shows how these organizations played a role in creating the housing bubble. Making home ownership a more plausible option and giving people better access to money for a mortgage, in effect puts more people into the market for a home... displayed 300 characters
