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Fannie Mae

Federal National Mortgage Association (FNMA). A publicly-traded company chartered by the U.S. Congress to guarantee mortgages granted to low- or middle-income households. In order to do this, it buys mortgages and repackages them, selling them as mortgage-backed securities. It also maintains its own portfolio of mortgage-backed securities. With the collapse of the housing bubble, Fannie Mae was placed in federal receivership in 2008 as a result of overexposure to this market. See also: Freddie Mac, Community Reinvestment Act, Credit crunch.


See Federal National Mortgage Association.

References in periodicals archive ?
After FNMA, the IRS abandoned its position regarding most common business hedges.
70% ISFDs were issued, conventional FNMA bonds with an average remaining life of 3.
The comparable figures for both FNMA and FHLMC were roughly 10 percent.
With experience in performing inspections and preparing studies conforming to FHA and FNMA condominium project approval standards for projects of all types and sizes, National Condo Inspections understands the importance of tailoring its services to the unique needs of any project.
The Company does not expect to realize any material tax benefit in connection with the impairment of its FNMA and FHLMC preferred stock.
The priority of payment of deficiencies in principal and interest is first from the FNMA Reserve Fund (only available to FNMA-backed certificates), then the Escrow Reserve Fund (only available to certain certificates), and finally the P&I Reserve Fund (available to all certificates).
An FNMA collateral agreement, delivered at closing on the bonds, will provide credit and liquidity support for this transaction.
The ratings reflect FNMA credit and liquidity enhancement through a collateral agreement, and the triple-'A' rated investments for this transaction.
Department of Agriculture, Rural Housing Service; (vi) to be funded by the Indiana housing finance authority; or (vii) with a principal amount that exceeds the conforming loan size limit for a single family dwelling as established by FNMA.
FNMA covers any failed remarketing through redemption of pledged collateral from FNMA's general fund, Standard & Poor's said.
The FNMA collateral agreement provides credit and liquidity support by insuring timely and full mortgage payments to the trustee.