“
After the wartime lull, Fannie’s loan investments rebounded as surging demand for housing spurred construction, especially in the suburbs. For home builders, Fannie was becoming a financial lifeline. Builders often relied on an advance commitment from Fannie to purchase a mortgage at a specified interest rate once construction of a home was completed and FHA insurance secured. By 1953, Fannie’s portfolio totaled $2.5 billion, up from $4.4 million at the low point in 1947.
”
”
James R. Hagerty (The Fateful History of Fannie Mae: New Deal Birth to Mortgage Crisis Fall)