Federal National Mortgage Association (FNMA) – Fannie Mae profile and corporate video
The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) headquartered in Washington, D.C., U.S. It was founded in 1938 during the Great Depression as part of the New Deal (a series of programs, reforms, and regulations enacted by President Franklin D. Roosevelt in the United States between 1933 and 1939 as a response to needs for recovery from the Great Depression).
The company’s purpose is to provide liquidity, promote stability and affordability in U.S. housing finance, building an efficient housing finance system – one that creates housing opportunities for homebuyers and renters in communities across the nation.
The company operates through two primary lines of business:
Single-Family
The Single-Family business provides liquidity to the Single-Family mortgage market by purchasing and guaranteeing mortgage loans that are made by the lender customers and issuing debt securities that attract global investors to finance U.S. housing and increase the availability and affordability of housing for single families.
Multifamily
The Multifamily business provides liquidity to the multifamily market by transforming multifamily loans into mortgage-backed securities. This increases available funds in the financial system and helps ensure that access to affordable and workforce rental housing is available in all markets across the country.
The sister of the organization is the Federal Home Loan Mortgage Corporation (FHLMC), commonly known as Freddie Mac.
With more than 7 500 employees, Fannie Mae is considered a leading source of financing for mortgage lenders. According to Forbes, it is considered one of the top 2000 largest public companies in the world.
*Information from Forbes.com, Wikipedia.org, and ”www.fanniemae.com”.
**Video published on YouTube by “Fannie Mae“.