The Housing and Urban Development Act of 1968, Pub.L. 90–448, 82 Stat. 476, enacted August 1, 1968, was passed during the Lyndon B. Johnson Administration. It established Ginnie Mae to expand availability of mortgage funds for moderate income families using government-guaranteed mortgage-backed securities. In doing so the new entity was split from the former Fannie Mae, which retained other functionality under that same name. The new entity was under the purview of the United States Department of Housing and Urban Development and its Federal Housing Administration.