An informal name for the Federal National Mortgage Association ( FNMA) or for securities issued by it. American Banker Glossary
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A publicly owned, government-sponsored corporation chartered in 1938 to purchase mortgages from lenders and resell them to investors. Known by the nickname Fannie Mae, it packages mortgages backed by the Federal Housing Administration, but also sells some nongovernment-backed mortgages. Bloomberg Financial Dictionary
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Securities issued by the Federal National Mortgage Association ( FNMA) of the US. Exchange Handbook Glossary
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Fannie Mae Fan‧nie Mae [ˌfæni ˈmeɪ] noun
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Federal National Mortgage Association (FNMA). A stockholder-owned corporation that was established in 1938 and is sponsored by the US government. The FNMA's main purpose is to increase the affordability of home mortgage funds for low-, moderate-and middle-income buyers and it is the largest source of home mortgage funds in the United States. Fannie Mae provides funds to the mortgage market primarily by buying mortgages from mortgage originators. These are then held in an investment portfolio or pooled for FNMA members. Purchases are financed by the sale of corporate obligations to private investors.
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Fannie Mae UK US noun US FINANCE
► SHORT FOR Federal National Mortgage Association: an official organization in the US that buys and sells loans in order to raise money to lend to house buyers. Fannie Mae was taken under Federal government control in 2008: »
The US treasury injected $15 billion of capital into Fannie Mae and Freddie Mac to stem the crisis at America’s biggest mortgage firms.
► [C, usually plural] a bond that is issued by Fannie Mae
Financial and business terms. 2012.