Who are Fannie Mae & Freddie Mac
Who are Fannie Mae & Freddie Mac and why should this be important to WNY home owners?
Fannie Mae and Freddie Mac
are publicly-owned agencies overseen by the Federal Government. Fannie
and Freddie have very simple and direct mission statements: 
To make sure that mortgage monies are available to homeowners who are looking for cost-effective home loans.
Western New York homeowners do not borrow directly from these agencies. Instead, Fannie and Freddie’s key role for a home buyer in Niagara Falls is to purchase mortgages from lending institutions; whether they are local or national - which make loans to Niagara Falls home buyers.
So, to some extent, for the Western New York Real Estate Market, Fannie Mae and Freddie Mac are a ready, willing and able source of mortgage money flowing into the local market. Fannie Mae and Freddie Mac have strict guidelines outlining the specific types of home loans they will acquire from banks and other lenders.