Dictionary of Real Estate Terms: Federal National Mortgage Association (FANNIE MAE or FNMA)
Federal National Mortgage Association (FANNIE MAE or FNMA)
a corporation that specializes in buying mortgage loans, mostly from mortgage bankers. It adds liquidity to the mortgage market. Nicknamed fannie mae, FNMA is owned by its stockholders, who elect 10 to its Board of Directors. The U.S. President appoints the other 5 directors.
Example: A mortgage banker originates conventional and FHA loan and periodically sells them to the Federal National Mortgage Association.
Address:
Federal National Mortgage Association
3900 Wisconsin Avenue NW
Washington, DC 20016
202-752-7000
www.fanniemae.com
