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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].
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, 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 ...
Over the past several years, use of "automated underwriting" statistical models has reduced the amount of documentation required from many borrowers. Such automated underwriting engines include Freddie Mac's "Loan Product Advisor" (fka "Loan Prospector") and Fannie Mae's "Desktop Underwriter". For borrowers who have excellent credit and very ...
Fannie Mae and Freddie Mac were in the news a lot this year. For starters, there was the presidential summit in August, to solicit ideas for what to do with the ailing government-sponsored ...
Federal National Mortgage Association (FNMA or Fannie Mae) Fannie Mae was partially privatized in 1968; its government administered portion was renamed the Government National Mortgage Association (Ginnie Mae); see Department of Housing and Urban Development, above; Health Care Financing Administration (HCFA)
Types of loans: Fannie Mae and Freddie Mac make a market in conventional loans — mortgages originated and backed by private lenders — while Ginnie Mae solely focuses on government-agency ...
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.