Which government-sponsored enterprise was placed into conservatorship in 2008?

The correct answer is both Fannie Mae and Freddie Mac. In 2008, during the financial crisis, both of these government-sponsored enterprises (GSEs) were placed into conservatorship by the Federal Housing Finance Agency (FHFA). This action was taken because both entities faced significant financial difficulties due to the collapse of the housing market and the resulting mortgage defaults. By being placed into conservatorship, the government aimed to stabilize these institutions, protect the housing market, and ensure the continued availability of mortgage credit.

Fannie Mae and Freddie Mac play crucial roles in the housing finance system by purchasing mortgages from lenders and guaranteeing them, which helps to provide liquidity and stability in the housing market. Ginnie Mae, while also a government agency related to housing, operates differently; it does not issue mortgages or purchase them but instead guarantees securities backed by FHA, VA, and other government-insured loans. Therefore, it was not placed into conservatorship during the 2008 financial crisis, making the inclusion of Ginnie Mae in the answer incorrect. Understanding the significance of both Fannie Mae and Freddie Mac during this period helps clarify the broader implications of the financial crisis on the housing and lending industries.