The Federal National Mortgage Association has been assisting foreign countries, including several in Eastern Europe. to set up housing financing systems modeled, for the most part, along the lines of programs of the 1950s and 1960s in the United States.

That was a period when Fannie Mae still was part of the federal government, and the thrifts, with funds supplied by the Federal Home Loan banks, were the main sources of liquidity. The countries of Eastern Europe, most of which did not permit any private home ownership, are using the model of the earlier U.S. housing finance system, said Gary L. Perlin, senior vice president for finance and treasurer of Fannie Mae.

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