What type of institutions did Fannie Mae initially aim to reduce reliance on?
Savings and loan associations
Commercial banks
Credit unions
Investment banks
Answer
Fannie Mae initially aimed to reduce reliance on locally based savings and loan associations (or "thrifts") by expanding the secondary mortgage market. This allowed for more lenders to participate in the mortgage market and increased overall lending.
The Fannie Mae Quiz: How Well Do You Know this Government-Backed Financial Services Company?
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