Fannie Mae
From Reuters Financial Glossary
(Redirected from Federal National Mortgage Association, FNMA)
Synonyms: Federal National Mortgage Association, FNMA
A stockholder-owned corporation that was established in 1938 and is sponsored by the US Government. The FNMA's main purpose is to increase the affordability of home mortgage funds for low-, moderate- and middle-income buyers and it is the largest source of home mortgage funds in the United States. Fannie Mae provides funds to the mortgage market primarily by buying mortgages from mortgage originators. These are then held in an investment portfolio or pooled for FNMA members. Purchases are financed by the sale of corporate obligations to private investors.
