The industry is currently divided between traditional banks, non-bank lenders, and specialized brokerage firms. Revista de Economia Política Internacional
The establishment of the Federal Housing Administration (FHA) in 1936 and Fannie Mae in 1938 transformed the market by introducing government-insured loans and creating a secondary market to provide liquidity to local banks.
The modern American mortgage is a product of post-Depression era reforms. Before the 1930s, mortgages typically required high down payments and featured variable interest rates with short maturities.
The industry is currently divided between traditional banks, non-bank lenders, and specialized brokerage firms. Revista de Economia Política Internacional
The establishment of the Federal Housing Administration (FHA) in 1936 and Fannie Mae in 1938 transformed the market by introducing government-insured loans and creating a secondary market to provide liquidity to local banks.
The modern American mortgage is a product of post-Depression era reforms. Before the 1930s, mortgages typically required high down payments and featured variable interest rates with short maturities.