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Federal National Mortgage Association |
Also found in: Legal, Encyclopedia, Wikipedia, Hutchinson | 0.04 sec. |
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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.
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