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A Strategy to Promote Affordable Housing for All Americans By Recapitalizing Fannie Mae and Freddie Mac. Elaine Kamarck, November 2015, Paper. "From 1938 to the financial crisis of 2008-2009, the Federal National Mortgage Association (Fannie Mae), joined in 1970 by the Federal Home Loan Mortgage Corporation (Freddie Mac), supported steady, strong increases in home ownership and access to affordable housing for millions of Americans. The share of American households owning their own home increased from less than 43% in 1940 to more than 69% in 2005, at which time Fannie and Freddie owned or ..." Link