Fannie Mae

Fannie Mae- Is a common and very popular name or nickname to describe the US Federal National Mortgage Association. Also know as the FNMA Fannie Mae is a publicly owned corporation that has government support. This corporation was chartered in 1938 to purchase mortgages from lenders and resell them to the public at large. The Fannie Mae Corporation is mostly package mortgages that have being backed by the Federal Housing Administration. They also sell some nongovernmental backed mortgages and package mortgages. The shares of Federal National Mortgage Association itself, known as Fannie Mae's, are traded on the New York Stock Exchange.