lunes, 28 de mayo de 2012

1930's

-1930's Housing crisis, mortgages too short.

1933 Roosevelt created Home owners loan corporation which offered loans to people who were in trouble, these lonas were set to 15 years.

1934: the federal housing act for low income passed and  loans were set to 30 years.

1938: Fannie mae: Created to buy mortgages from originator.

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