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Government Sponsored Entities
A government-sponsored enterprise (GSE) is a type of financial services corporation created by the United States Congress. Their intended function is to enhance the flow of credit to targeted sectors of the economy, to make those segments of the capital market more efficient and transparent, and to reduce the risk to investors and other suppliers of capital. The desired effect of the GSEs is to enhance the availability and reduce the cost of credit to the targeted borrowing sectors primarily by reducing the risk of capital losses to investors: agriculture, home finance and education. Well known GSEs are the Federal National Mortgage Association, known as Fannie Mae, and the Federal Home Loan Mortgage Corporation, or Freddie Mac. Congress created the first GSE in 1916 with the creation of the Farm Credit System. It initiated GSEs in the home finance segment of the economy with the creation of the Federal Home Loan Banks in 1932; and it targeted education when it chartered Salli ...
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Financial Services
Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns financial management and consumer finance. The finance industry in its most common sense concerns commercial banks that provide market liquidity, derivative (finance), risk instruments, and broker, brokerage for large public company, public companies and multinational corporations at a macroeconomics, macroeconomic scale that impacts domestic politics and foreign relations. The extragovernmental power and scale of the finance industry remains an ongoing controversy in many industrialized Western economies, as seen in the American Occupy Wall Street civil protest movement of 2011. Styles of financial institution include credit union, bank, savings and loan association, trust company, building society, brokerage firm, payment processor, many ty ...
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Securitization
Securitization is the financial practice of pooling various types of contractual debt such as residential mortgages, commercial mortgages, auto loans, or credit card debt obligations (or other non-debt assets which generate receivables) and selling their related cash flows to third party investors as securities, which may be described as bonds, pass-through securities, or collateralized debt obligations (CDOs). Investors are repaid from the principal and interest cash flows collected from the underlying debt and redistributed through the capital structure of the new financing. Securities backed by mortgage receivables are called mortgage-backed securities (MBS), while those backed by other types of receivables are asset-backed securities (ABS). The granularity of pools of securitized assets can mitigate the credit risk of individual borrowers. Unlike general corporate debt, the credit quality of securitized debt is non- stationary due to changes in volatility that are time ...
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Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of countries and dependencies by area, second-largest country by total area, with the List of countries by length of coastline, world's longest coastline. Its Canada–United States border, border with the United States is the world's longest international land border. The country is characterized by a wide range of both Temperature in Canada, meteorologic and Geography of Canada, geological regions. With Population of Canada, a population of over 41million people, it has widely varying population densities, with the majority residing in List of the largest population centres in Canada, urban areas and large areas of the country being sparsely populated. Canada's capital is Ottawa and List of census metropolitan areas and agglomerations in Canada, ...
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Crown Corporation
Crown corporation () is the term used in Canada for organizations that are structured like private companies, but are directly and wholly owned by the government. Crown corporations have a long-standing presence in the country, and have a significant economic impact, with commercial operations equivalent to 7% of Canadian GDP. Crown corporations are created to advance government policy objectives. Often they provide services to the public that are not economically viable for a private enterprise, or that do not fit exactly within the scope of any ministry. They represent a form of state-owned enterprise. Crown corporations are established by an Act of Parliament, act of parliament or an act of a provincial legislature. Federal government Crowns report to the relevant Minister of the Crown, minister in Cabinet of Canada, Cabinet, though they are "shielded from constant government intervention and legislative oversight" and thus "generally enjoy greater freedom from direct pol ...
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SLM Corporation
SLM Corporation (commonly known as Sallie Mae; originally the Student Loan Marketing Association) is a publicly traded U.S. corporation that provides consumer banking. Its nature has changed dramatically since it was set up in the early 1970s; initially a government entity that serviced federal education loans, it then became private and began offering private student loans. The company's primary business is creating, servicing, and collecting private education loans. The company also provides online tools and resources for college planning. Sallie Mae previously originated federally guaranteed student loans under the Federal Family Education Loan Program (FFELP) and worked as a servicer and collector of federal student loans on behalf of the Department of Education. The company now offers private education loans and manages more than $12.97 billion in assets. On April 30, 2014, Sallie Mae spun off its loan servicing operation and most of its loan portfolio into a separate, p ...
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Federal Agricultural Mortgage Corporation
The Federal Agricultural Mortgage Corporation, also known as Farmer Mac, is a stockholder-owned, publicly traded company that was chartered by the United States federal government in 1988 to serve as a secondary market in agricultural loans such as mortgages for agricultural real estate and rural housing. The company purchases loans from agricultural lenders, and sells instruments backed by those loans. The company also works with the United States Department of Agriculture. It is based in Washington, D.C. History It was created by the Agricultural Credit Act of 1987 () as a federally chartered, private corporation responsible for guaranteeing the timely repayment of principal and interest to investors in a new agricultural secondary market. The secondary market allows a lending institution to sell a qualified farm real estate loan to an agricultural mortgage marketing facility, or pooler, which packages these loans, and sells to investors securities that are backed by, or rep ...
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Federal Farm Credit Banks
The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $373 billion (as of 2022) in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility cooperatives. As of 2021, the Farm Credit System provides more than 45% of the total market share of US farm business debt. Congress established the Farm Credit System in 1916 to provide a reliable source of credit for farmers and ranchers, by making loans to qualified borrowers at competitive rates and providing insurance and related services. Authority and oversight Congress established the Farm Credit System as a government-sponsored enterprise (GSE) when it enacted the Federal Farm Loan Act of 1916. Current authority is granted by the Farm Credit Act of 1971. The Farm Credit System is considered ...
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Government National Mortgage Association
The Government National Mortgage Association (GNMA), or Ginnie Mae, is a government-owned corporation of the United States Federal Government within the Department of Housing and Urban Development (HUD). It was founded in 1968 and works to expand affordable housing by guaranteeing housing loans (mortgages) thereby lowering financing costs such as interest rates for those loans. It does that through guaranteeing to investors the on-time payment of mortgage-backed securities (MBS) even if homeowners default on the underlying mortgages and the homes are foreclosed upon. Ginnie Mae guarantees only securities backed by single-family and multifamily loans insured by government agencies, including the Federal Housing Administration, United States Department of Veterans Affairs, Department of Veterans Affairs, the Department of Housing and Urban Development’s Office of Public and Indian Housing, and the Department of Agriculture’s Rural Development. Ginnie Mae neither originates ...
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Federal Home Loan Mortgage Corporation
The Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac, is an American publicly traded, government-sponsored enterprise (GSE), headquartered in Tysons, Virginia.Tysons Corner CDP, Virginia
". . Retrieved on May 7, 2009.
The FHLMC was created in 1970 to expand the for

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Federal National Mortgage Association
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, the corporation's purpose is to expand the secondary mortgage market by securitizing mortgage loans in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on locally based savings and loan associations (or "thrifts"). Its brother organization is the Federal Home Loan Mortgage Corporation (FHLMC), better known as Freddie Mac. In 2024, with over $4.3 trillion in assets, Fannie Mae is the largest company in the United States and the fifth largest company in the world, by assets. Fannie Mae was ranked number 27 on the ''Fortune'' 500 rankings of the largest United States corporati ...
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Jon Kyl
Jon Llewellyn Kyl ( ; born April 25, 1942) is an American politician and lobbyist who served as a United States Senator for Arizona from 1995 to 2013. Following the death of John McCain in 2018, Kyl briefly returned to the Senate; his resignation led to the appointment of Martha McSally in 2019. A Republican, he held both of Arizona's Senate seats at different times, serving alongside McCain during his first stint. Kyl was Senate Minority Whip from 2007 until 2013. He first joined the lobbying firm Covington & Burling after retiring in 2013, then rejoined in 2019. The son of U.S. Representative John Henry Kyl and Arlene (née Griffith) Kyl, Kyl was born and raised in Nebraska and lived for some time in Iowa. He received his bachelor's degree and law degree from the University of Arizona. He worked in Phoenix, Arizona as an attorney and lobbyist before winning election to the United States House of Representatives, where he served from 1987 to 1995. He was elected to the U.S. ...
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Conservatorship
Under U.S. law, a conservatorship results from the appointment of a guardian or a protector by a judge to manage the personal or financial affairs of another person who is incapable of fully managing their own affairs due to age or physical or mental limitations. A person under conservatorship is a "conservatee", a term that can refer to an adult. A person under guardianship is a "ward", a term that can also refer to a minor child. Conservatorship may also apply to corporations and organizations. The conservator may be only of the "estate" (financial affairs) but may be also of the "person", wherein the conservator takes charge of overseeing the daily activities, such as healthcare or living arrangements of the conservatee. A conservator of the person is more typically called a legal guardian. In 2021, an estimated 1.3 million people in the U.S. were under conservatorship. Terminology A person appointed to manage affairs is a conservator. A person under conservatorship is a ...
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