Federal National Mortgage Association(redirected from Fannie+mae)
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Federal National Mortgage Association (Fannie Mae)
Federal National Mortgage Association
Federal National Mortgage Association (FNMA)
Popularly known as Fannie Mae.A former government agency that was privatized in 1968, Fannie Mae's mandate is to increase the availability and affordability of homeownership for low-, moderate- and middle-income Americans. It does this by purchasing mortgages in the secondary market and then selling and insuring securities comprised of packages of mortgages. These are usually single-class mortgage backed securities known as Fannie Mae MBS. Contrast with multiclass mortgage backed securities described under real estate mortgage investment conduit (REMIC). The association's Web site is www.fanniemae.com; shares in the company are traded on the New York Stock Exchange as FNM.