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Federal National Mortgage Association |
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Federal National Mortgage Association (Fannie Mae) A publicly owned, government-sponsored corporation chartered in 1938 to purchase mortgages from lenders and resell them to investors. Known by the nickname Fannie Mae, it packages mortgages backed by the Federal Housing Administration, but also sells some nongovernment-backed mortgages.
Federal National Mortgage Association Also known as Fannie Mae or the 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. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| Automated underwriting systems at the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) get a common data format, as the two agencies adopt extensible markup language (XML) data specifications (www. He is past chairman of the Government National Mortgage Association (Ginnie Mae) liaison committee of the Mortgage Bankers Association of America and a member of the Northeast regional advisory board of Federal National Mortgage Association (Fannie Mae). The REIT invests primarily in, but is not limited to, residential mortgage-related securities issued by the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac) and the Government National Mortgage Association (Ginnie Mae). |
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