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Fannie Mae buys loans from approved mortgage sellers and securitizes them; it then sells the resultant mortgage-backed security to investors in the secondary mortgage market, along with a guarantee that the stated principal and interest payments will be timely passed through to the investor. [citation needed].
Fannie Mae, which was originally restricted to purchasing Federal Housing Administration and Veterans Administration (VA) mortgages (Fannie Mae was permitted to deal in conventional mortgages in 1970), and; Ginnie Mae, formerly the Government National Mortgage Association, which originally only provided insurance for bonds issued by FHA and VA ...
For a list of articles discussing the Federal Home Loan Bank System, Fannie Mae, and Freddie Mac, see Fannie Mae and Freddie Mac: A Bibliography. Susan M. Hoffman and Mark K. Cassell, eds. Mission Expansion in the Federal Home Loan Bank System (State University of New York Press; 2010) 208 pages; Thomson, James B. and Matthew Koepke.
The nickname for Fannie Mae draws from the agency’s full name: the Federal National Mortgage Association. It’s a kind of verbalization of the acronym, FNMA. Does Fannie Mae loan directly to ...
Fannie Mae and Freddie Mac history In 1938, the government created Fannie Mae, or the Federal National Mortgage Association, amid the struggles of the Great Depression.
In 1990, Johnson became vice chairman of Fannie Mae, or the Federal National Mortgage Association, [15] a United States government-sponsored enterprise and publicly traded company. [18] [19] In 1991, he was appointed chairman and chief executive officer of Fannie Mae, [15] a position he held until 1998.
Ginnie Mae and Fannie Mae are both key players in the home mortgage business. The two organizations help make home loans available and affordable by increasing lenders' access to funds through the ...
Franklin Delano Raines (born January 14, 1949), also known as Frank Raines, is an American business executive.He is the former chairman and chief executive officer of the Federal National Mortgage Association, commonly known as Fannie Mae, who served as White House budget director under President Bill Clinton.