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As of 2023, Fannie Mae and Freddie Mac support around 70 percent of the mortgage market, ing to the National Association of Realtors. That means the majority of conventional loans, those offered by private lenders, end up being backed or purchased by one of the two entities.
Fannie Mae is happy to buy mortgages from lenders but not every mortgage. For Fannie Mae and Freddie Mac to be able to re-sell loans, they need to be considered safe investments. That means each mortgage must meet certain requirements or guidelines. Fannie Mae guidelines run more than 1,200 pages.
We encourage you to contact your servicer (often your bank or lender) to verify that your mortgage loan is owned or guaranteed by Fannie Mae or Freddie Mac, or you may verify it yourself by accessing the following websites: Fannie Mae .KnowYourOptions.com/loanlookup, Freddie Mac .freddiemac.com/mymortgage.
Freddie Mac outlines several eligibility criteria for borrowers including: A credit score of 660 or higher. A debt-to-income rate of 43% or lower. A down payment of 3%
With loans from either Fannie Mae or its competitor Freddie Mac, youll need a qualifying FICO Score of at least 620. If youre an individual borrower, your qualifying score is the median between the three major credit bureaus Experian, Equifax and TransUnion.
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Its common for lenders to sell home loans to another company, including Freddie Mac. This practice allows lenders to make more home loans. If you received a letter titled Borrower Notification: Freddie Mac Has Purchased Your Mortgage Loan, dont be alarmed.
As restated, Freddie Macs net income for 2002 was $10.09 billion, or $14.18 per diluted common share. The company reported regulatory core capital of $28.99 billion as of December 31, 2002, and stockholders equity at that date was $31.33 billion.
Fannie Mae Loan Lookup Tool Fill out the simple form with all required and requested information. The form will ask for your First and Last Name, Address, and Last 4 Digits of your Social Security Number. If Fannie Mae DOES own your loan: the resulting page will show a match.

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