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Fannie Mae

Federal National Mortgage Association
Company nameFederal National Mortgage Association (Fannie Mae)
Company typeGovernment-sponsored enterprise & Public company
HeadquartersWashington, D.C.
Key peopleMike Williams, CEO
Revenue(+) US$153.8 billion (2010)
Net income(-) US$-14.0 billion (2010)
Total assetsUS$3.2 trillion (2010)
Total equity(-) US$-2.6 billion (2010)

     Home | Company | Federal National Mortgage Association

The Federal National Mortgage Association (FNMA; Otcbb - FNMA), commonly known as Fannie Mae, was founded in 1938 during the Great Depression as part of the New Deal. It is a government-sponsored enterprise (GSE), though it has been a publicly traded company since 1968. The corporation's purpose is to expand the secondary mortgage market by securitizing mortgages in the form of mortgage-backed securities (MBS), allowing lenders to reinvest their assets into more lending and in effect increasing the number of lenders in the mortgage market by reducing the reliance on thrifts.

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