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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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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Federal National Mortgage Association

Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

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 ?
Federal National Mortgage Association, to Davidson Derrick, 277 S 70th Pl, Springfield, 97478; $182,800.
Federal National Mortgage Association, to Mast Casey; 299 Oak Leaf Dr, Eugene.
To assist LMI borrowers in New York, Trust Company offered loans through the Federal National Mortgage Association (Fannie Mae) "Get Started" program, as well as FHA mortgages and flexible mortgages through the State of New York Mortgage Association.
Federal National Mortgage Association provides a source of liquidity to the mortgage market and supports the availability and affordability of housing in the US.
The single-family portfolio consisted of 84% Government National Mortgage Association (Ginnie Mae), Federal National Mortgage Association (Fannie Mae), and Federal Home Loan Mortgage Corporation (Freddie Mac) MBS.
Under the agreement, SunTrust Mortgage is committed to provide USD 179m in consumer remediation (up to a maximum of USD 274m ), USD 20m to fund housing counseling for homeowners, USD 10m paid toward restitution to the Federal National Mortgage Association and Federal Home Loan Mortgage Corp, and a cash payment of USD 16m to the United States Treasury.
18 November 2013 a[euro]" US hedge fund Pershing Square Capital Management LP unveiled it had bought nearly 10% stakes in both the Federal National Mortgage Association (OTCBB:FNMA), also known as Fannie Mae, and the Federal Home Loan Mortgage Corp (OTCBB:FMCC), or Freddie Mac.
The session featured mortgage veteran Karl Panthen of Wells Fargo, who noted that Riverview Club is approved by both the Federal Housing Administration (FHA) and Federal National Mortgage Association (FNMA), which affords buyers good rates and low down payments.
The nonprofit LLC purchased the 7.6-acre Squire Court Apartments development at 5201 Geyer Springs Road for $2.1 million in December from Fannie Mae (aka the Federal National Mortgage Association).
(14) The bank also offered affordable mortgage products to LMI borrowers through programs of the Federal National Mortgage Association ("Fannie Mae") and the State of New York Mortgage Association.
One of the last pieces of Depression-era legislation created the Federal National Mortgage Association (Fannie Mae), then wholly owned by the government.
In the government agency market, the firm served as the lead manager or co-manager in issuing more than $1.5 billion in bonds for the Student Loan Marketing Association (Sallie Mae), the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Bank (Freddie Mac).

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