Fannie
Americannoun
Example Sentences
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In January alone, investors were surprised by the military operation in Venezuela, an unexpected proposal to cap credit-card interest rates at 10%, a directive to housing giants Fannie Mae and Freddie Mac to buy $200 billion of mortgage bonds, and Japanese policy shifts that sparked a bond-market selloff, Pimco’s Marc Seidner and Pramol Dhawan wrote in a recent report.
But VantageScore struggled to gain acceptance among home lenders because Fannie Mae and Freddie Mac—the government-sponsored enterprises that stand behind half of single-family mortgages and set lending standards for the industry—required them to use FICO.
The credit bureaus complained that Fannie and Freddie were stifling competition.
In the aftermath of the housing crisis, the Federal Housing Finance Agency, which oversees Fannie and Freddie, sought to keep them on a tighter leash, at least for a time.
Fannie and Freddie charge higher fees to insure mortgages for borrowers with lower credit scores.
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Idioms from The American Heritage® Idioms Dictionary copyright © 2002, 2001, 1995 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company.