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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.
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See Federal National Mortgage Association.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Liquidations and unscheduled principal payments for FNMA and FHLMC are calculated in the same manner.
MidCountry argued that it had submitted subsequent appraisals after FNMA first contested the original appraisal, and those subsequent appraisals suggested the original valuation was accurate and not inflated.
$114,000, 188 Maple St, FNMA, to Armstrong, Kellie, and Smith, Jameson.
FNMA is a private corporation organized under an act of Congress to provide assistance to the secondary market for home mortgages.
FNMA and FHLMC announced that they would not lower the limit, because the 1980 statute referred only to "increases," and not to "decreases" or "changes."(8) HUD Secretary Henry Cisneros, as GSE regulator, first challenged this action and then accepted it.
Assuming no change in interest rates after issuance, the FNMA would redeem 20% (one-half of the 40% annual rate) of the remaining outstanding balance (as distinct from the original balance) on each semiannual sinking fund date.
In particular, so-called jumbo loans" (those exceeding the loan limit set by FNMA and FHLMC) are purchased by depository institutions, pension funds, insurance companies, and others.
Johnson said that FNMA continues to see particularly high demand for IO.
Fannie Mae (OTC BB: FNMA) has said that it is planning to issue a five year USD3bn bond.
The new Battery Park City condo received conditional FNMA approval under a phased marketing program which allows for closings in a portion of the building to start before the typical benchmark of over 50% sold.
The Federal National Mortgage Association (FNMA) (OTCBB: FNMA), commonly known as Fannie Mae, has sold a two-year benchmark issue of USD8bn at a yield of 0.517 percent, Dow Jones has reported.