The corporations Freddie Mac and Fannie Mae helped to guarantee private home loans. James B. Lockhart III was the director of FHFA or Federal Housing Finance Agency in the year 2008 and he decided to give two government sponsored enterprises Fannie Mae and Freddie Mac into conservatorship of government enterprises. Fannie Mae was founded in the year 1938.
The South's greatest strength lay in the fact that it was fighting on the defensive in its own territory. Being familiar with the land made exporting easier.
