Federal National Mortgage Association Fannie Mae
The Federal National Mortgage Association, more commonly referred to as Fannie Mae, was founded in 1938. It is a publicly traded company and a government sponsored enterprise (GSE). Its mission is to make sure that mortgage money is available for people in the United States to buy homes. Fannie Mae buys residential mortgages from lenders, packages them into securities, and sells them on the secondary market. This enables lenders to make additional loans and provide liquidity. Additionally, it provides loan guaranty or insurance services for mortgage-backed securities created by other organizations. In 2008, the U.S government took control of both Freddie Mac and Fannie Mae due to their large losses in the subprime housing market collapse before later placing them into conservatorship of the federal government’s ‘Federal Housing Finance Agency’ (FHFA) while they recovered with assistance of nearly $187 billion in taxpayer funds. Over time both companies released themselves from conservatorship and continued supporting homeowners across America while focusing on protecting taxpayers through responsible financial management strategies.
Headquarters
1100 15TH STREET, NW, WASHINGTON, DC 20005