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Fannie Mae. The Federal National Mortgage Association (FNMA), commonly known as Fannie Mae, is a United States government-sponsored enterprise (GSE) and, since 1968, a publicly traded company. Founded in 1938 during the Great Depression as part of the New Deal, [2] the corporation's purpose is to expand the secondary mortgage market by ...
Fannie Mae's Reston, Virginia, facility. The GSE business model has outperformed any other real estate business throughout its existence. According to the Annual Report to Congress, [13] filed by the Federal Housing Finance Agency, over a span of 37 years, from 1971 through 2007, Fannie Mae's average annual loss rate on its mortgage book was about four basis points.
Several executives of Fannie Mae or Freddie Mac include Kenneth Duberstein, former Chief of Staff to President Reagan, advisor to John McCain's Presidential Campaign in 2000, and President George W. Bush's transition team leader (Fannie Mae board member 1998–2007); [65] Franklin Raines, former Budget Director for President Clinton, CEO from ...
The Federal National Mortgage Association (FNMA), colloquially known as Fannie Mae, is a Congressionally-chartered enterprise that acts as a major player in the mortgage industry. Fannie Mae does ...
The two buy most of the mortgages originated in the U.S. Their guidelines for conforming loans strongly influence the way lenders will lend money. The main difference is that Fannie Mae's loans ...
James A. Johnson (December 24, 1943 – October 18, 2020) [1] was an American businessman, Democratic Party political figure, and chairman and chief executive officer of Fannie Mae. He was the campaign chairman for Walter Mondale 's unsuccessful 1984 presidential bid and chaired the vice presidential selection committee for the presidential ...
Fannie Mae and Freddie Mac then either keep them or, ... Along with HUD and FHFA oversight, the President of the United States appoints five of the 18 board members at each entity.
The Government National Mortgage Association (GNMA), or Ginnie Mae, is a government-owned corporation of the United States Federal Government within the Department of Housing and Urban Development (HUD). [1] It was founded in 1968 and works to expand affordable housing by guaranteeing housing loans (mortgages) thereby lowering financing costs ...