Fannie Mae and Freddie Mac

www.fanniemae.com Fannie Mae was created in 1938, under President Roosevelt. Fannie Mae was re-chartered in 1968 by Congress as a shareholder-owned company, funded solely with private capital raised from investors on Wall Street and around the world. History:   To provide competition in the secondary mortgage market, and to end Fannie Mae’s monopoly, Congress chartered Freddie Mac as a private corporation. FAQs about Freddie Mac www.freddiemac.com/ Congress defined this mission in the 1970 charter [PDF 54K].