SMMEA
Secondary Mortgage Market Enhancement Act (SMMEA) is an act realized in 1984 in the United States of America. SMMEA had the purpose of meeting the expanding demand for mortgage credit because, at the time, federal agencies could not meet mortgage credit in the whole. It enables the institutions which are financially-regulated and federally-chartered to invest in securities that are mortgage-backed. It also allowed said institutions which were state-chartered and regulated to override state investment laws to be able to invest in securities. SMMEA is responsible for the rapid growth in residential mortgage market for the succeeding decades.
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