10-22.In 1938 Congress established as a unit of the Reconstruction Finance Corporation the:

Question

Quizplus · Accepted Answer

In 1938, Congress established the Federal National Mortgage Association as a unit of the Reconstruction Finance Corporation with the primary purpose of creating a secondary market for mortgages by purchasing them from approved lenders. This allowed for more money to circulate within the housing market, increasing the availability of mortgages for buyers. Later, in 1968, Fannie Mae (as it is commonly known) was converted into a government-sponsored enterprise, and is now one of the largest players in the housing finance market. The other choices mentioned (GNMA, FHLMC, and HHFA) were established at later dates and for different purposes.

10-22In 1938 Congress Established as a Unit of the Reconstruction